Technical Analysis of Weekly Price Movement of CAD/JPY Commodity Currency Pairs, Tuesday, August 29 2023.
August 29, 2023 6:23 am
Although there is CCI indicator on its weekly chart, CAD/JPY commodity currency pairs has managed to break upward its three main level (-100, 0, 100) however because hold on its Supply level area so that there is potential that in a few weeks ahead, CAD/JPY down below to test the level 104,23. If this level succesfully broken below, then the level 100,86 will be the next target which will be aimed as long as on the way down there is no significant upward correction to pass above the 109.50 level because if this level is successfully broken above then all the downside scenarios that have been described previously will become invalid and cancel automatically.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Although there is CCI indicator on its weekly chart, CAD/JPY commodity currency pairs has managed to break upward its three main level (-100, 0, 100) however because hold on its Supply level area so that there is potential that in a few weeks ahead, CAD/JPY down below to test the level 104,23. If this level succesfully broken below, then the level 100,86 will be the next target which will be aimed as long as on the way down there is no significant upward correction to pass above the 109.50 level because if this level is successfully broken above then all the downside scenarios that have been described previously will become invalid and cancel automatically.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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