Is JPY staging a big recovery?
We saw CADJPY finally reverse around 111.00 after an extended run to the upside. This was then followed by a monthly shooting star candle on the monthly chart, signaling a potential reversal. Sellers stepped in and we saw a drop to 104.50.
We've since then seen a pullback into 107.00 resistance, whilst market consolidated in a potential bear flag.
Could we see JPY gain further, CADJPY drop lower and the bear flag play out, breaking 104.50 support on its way to 102.50? One for the radar.
We've since then seen a pullback into 107.00 resistance, whilst market consolidated in a potential bear flag.
Could we see JPY gain further, CADJPY drop lower and the bear flag play out, breaking 104.50 support on its way to 102.50? One for the radar.
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Global risk Warning CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading in CFDs. You should consider whether you understand how CFD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.