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fxpremiere
Mar 5, 2021 8:19 AM

CADJPY on decline Short

Canadian Dollar/Japanese YenFXCM

Description

#CADJPY
In February, the price made an important breakdown of the 82.17
I support line. This is the strong line of 2012. And after its breakout, the price showed good growth. However, the growth stopped at another no less strong line - the 2014 resistance.

We don't think the price will have the strength to make another major breakout. Therefore, now I expect that the price will turn towards the support zone from the resistance line. Thus, my final target is support zone 82.28.
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