Technical analysis of CAD/JPY for November 11, 2016
November 11, 2016 11:20 am
After forming a double bottom near 75.50 area, CAD/JPY went up sharply and broke above the descending channel. Currently it corrected back to retest the upper trend-line channel, which should act as a support.
Consider buying CAD/JPY while the rate is near 78.60, targeting 161.8% Fibs (82.60). The suggested stop loss is 78.40.
Support: 78.60
Resistance: 82.60
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
After forming a double bottom near 75.50 area, CAD/JPY went
up sharply and broke above the descending channel. Currently it corrected back
to retest the upper trend-line channel, which should act as a support.
Consider buying CAD/JPY while the rate is near 78.60,
targeting 161.8% Fibs (82.60). The suggested stop loss is 78.40.
Support: 78.60
Resistance: 82.60
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: