Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
CAD/JPY reversed from long-term support level 81.00
2019-11-11 • Updated
- 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)).
Similar
USD/CAD Short Trade
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
Eyes on Bank of Canada's decision today
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
Latest news
How Will Amazon Price React To The Split?
What will happen? Amazon announced the company is going to make a 1 – 20 stock split on June 3 after the trading session close (23:30 GMT+3)…
CONSUMPTION AND ITS INFLUENCE ON THE ECONOMY
How to understand if an economy is accelerating or decelerating? What are the indicators that can guide us in this interpretation? One of the ways in which we can assess this situation is precisely the household consumption, which fundamentally refers to…
CREDIT CYCLES IN THE ECONOMY AND THE BRAZILIAN CASE
Credit cycles (or leverage cycles) represent moments in the economy of a country when families and companies get indebted, in order to invest or to spend in different segments, which ends up positively influencing the level of the general economic…
