On the 240 chart the CADJPY has been pulling back to a key level. Price got pretty parabolic and then we see momentum has just come to a halt. We were in a range for a few days and now price has spiked up out of the range. The range break was fairly structured, but I don't trust it. If the current 240 candle closes as an exhaustion bar then I will plan for it to break back into the range. If it does this then I will look to short it on a retest of the range high. I am expecting this to be a probe/faker.
From a strength perspective both groups seem similar in strength currently. So I will lean on the technical views to be the leader here.
From a strength perspective both groups seem similar in strength currently. So I will lean on the technical views to be the leader here.
All the analysis is based on techniques from:
www.urbanforex.com/
Check out our in house strength meter app we use for all our analysis on the app store.
FX Meter : itunes.apple.com/us/app/fx-meter/id1286671384?ls=1&mt=8
www.urbanforex.com/
Check out our in house strength meter app we use for all our analysis on the app store.
FX Meter : itunes.apple.com/us/app/fx-meter/id1286671384?ls=1&mt=8