CADJPY 100.77: Bullish –4-week rising trendline underpins upside
CADJPY rebounded off 99.75 (June 19, 2015 low) reinforcing the support of the 4-week rising trendline (as shown on the 240 minute chart). Further gains threaten the 101.02/101.14 rang resistance. A break through there would extend the 3-month uptrend towards 102.19 then 103.65 near 76.4% of the 106.50/91.73 fall. The 99.75 area should hold dips. Only a breakdown there would caution bulls and suggest near-term topping for a move towards 99.39 then 98.32.
Outlook:
Short term: bullish
Long term: bullish
Outlook:
Short term: bullish
Long term: bullish
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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.