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CAD/JPY reversed from long-term support level 81.00
- CAD/JPY reversed from long-term support level 81.00
- Next buy target 83.40
CAD/JPY recently reversed up from the powerful, long-term support level 81.00 (which has been steadily reversing the pair from last April and which was set as the sell target in our earlier forecast for this currency pair). The upward reversal from the support level started the active minor corrective wave (iv). CAD/JPY is expected to rise further toward the next buy target at the next resistance level 83.40 (top of wave (ii)).
The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
AUD/JPY finds itself at the crossroads of several trends - we will use various time frames to foresee the possible scenarios.
AUD/JPY formed a “shooting star” candlestickon the W1. This week, it’s testing levels below the 50-week MA at 75.45.
On the W1, Brent oil formed a bullish “hammer”…
In times of political and economic uncertainties, analysts recommend investing in safe-haven assets. However, since recently, the USD with the weak American economic data and the easing monetary policy has been losing its status. What about the JPY and XAU? The situation is unclear.