CAD/JPY on the way to reach 92.16 in a long-term basis

CAD/JPY on the way to reach 92.16 in a long-term basis

A strong demand zone has been found between 81.83 and 79.73 (50% - 61.8% Fibonacci retracement levels), where CAD/JPY managed to resume the bullish bias held since November 2016. Such rebound could help the pair to reach the long-term target placed around 92.16, where it’s located the -23.6% Fibonacci retracement zone. To the downside, pullbacks should be limited by the 200 SMA at Daily chart.

The RSI indicator in this timeframe still favors the bullish bias, but it’s entering the overbought territory, favoring to possible corrective pullbacks that should help to erase overbought levels across the board.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera