CAD/JPY broke combined support area

CAD/JPY broke combined support area

  • CAD/JPY broke combined support area
  • Next sell target - 86.70

 CAD/JPY today broke through the combined support area lying between the pivotal support level 0.8100 (which also stopped the two previous corrective waves 2 and (2), as can be seen below) and the extended support trendline from the start of August. The breakout of this support area strengthened the bearish pressure on this currency pair.  CAD/JPY is expected to fall further toward the next sell target at the next support level 86.70 (multi-month low from November).


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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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