CADJPY - Short on retest of triangle break out

FX:CADJPY   Canadian Dollar / Japanese Yen
599 56 9
Triangle break out + divergence. Expect a bounce from the lower trend line of the price channel and then a decline.
The support/resistance at 95.436 seems to be a tough nut to crack. I would assume a dip lower and then a retrace back to 95.436 could happen only then a move to the downside, unless the pair drops in a more clear fashion.
HiTech justatrader
CADJPY probably going to be flat for now, then should move lower to 94.70 - first support
6.8% unemployment rate and yet this B**ch doesn't move an inch!!
+1 Reply
HiTech justatrader
its more probable that CAD will go down against other pairs for the time being
jangseohee justatrader
cancelled out by falling oil price?
HiTech jangseohee
just purely technical outlook
Realisto_FX jangseohee
Not yet , there´s still a breakout down option after negative consumer sentiment in 1 hour
GJ look bullish?
+1 Reply
IvanLabrie jangseohee
Yes, it's probably completing a leg down there then retracement coming.
HiTech jangseohee
why you are asking if it looks bullish when we all discuss about it being bearish :)
+1 Reply
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