CAD/JPY strengthening the bearish bias below the 200 SMA

CAD/JPY strengthening the bearish bias below the 200 SMA

CAD/JPY has been finding strong resistance at the Fibonacci level of 50% at 81.98 following a buying wave seen since March 19th session. The 200 SMA at H1 chart is helping to provide dynamic resistance so far and the pair didn’t succeed to post fresh highs above the 65% Fibonacci level and that’s why we would like to see a bearish continuation towards the -23.6% Fibonacci zone at 79.85.

RSI indicator remains in the negative territory, favoring to the bearish bias.



Latest news

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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