CAD/JPY downtrend intact- add leveraging effects via digital put
You see a day highs at 84.274 to drop back to form a bear candle with US session to spare.
Seems quite weaker after break below support at 84.348 levels.
Current prices are well below 7 & 21DMAs.
Most notably, you can see an attempt of 21EMA crossing over 7EMA, hence, bear trend is likely to persist.
On a broader perspectives, price on weekly drop below 85.1674 levels (21EMAs) and 84.348 decisively has been serving strong bear trend.
Shooting star which is bearish in nature has been traced out at 85.727 levels.
But slow stochastic is bearish biased on both daily and weekly.
RSI's downward convergence to the ongoing price declines suggests the same bearish signals.
We could foresee weakness in CADJPY when we consider the intermediate and long term trend as well.
Contemplating intraday bearish sentiments, we recommend on pure speculation basis buying one touch binary puts in order to extract maximum leverage for extended profitability because their pay off structure in premiums are exponential.
On the contrary, the initial investments can be wipe off if your anticipation goes wrong.
For targets at 83.440 one can bet on these instruments with shorter expiries. But in medium terms spot targets of "82.669" should not be disregarded.
One can give leveraging touch to your returns expectation if underlying pair keeps dipping by employing At-The-Money binary delta puts. But do remember these are exclusively for speculative basis.
Seems quite weaker after break below support at 84.348 levels.
Current prices are well below 7 & 21DMAs.
Most notably, you can see an attempt of 21EMA crossing over 7EMA, hence, bear trend is likely to persist.
On a broader perspectives, price on weekly drop below 85.1674 levels (21EMAs) and 84.348 decisively has been serving strong bear trend.
Shooting star which is bearish in nature has been traced out at 85.727 levels.
But slow stochastic is bearish biased on both daily and weekly.
RSI's downward convergence to the ongoing price declines suggests the same bearish signals.
We could foresee weakness in CADJPY when we consider the intermediate and long term trend as well.
Contemplating intraday bearish sentiments, we recommend on pure speculation basis buying one touch binary puts in order to extract maximum leverage for extended profitability because their pay off structure in premiums are exponential.
On the contrary, the initial investments can be wipe off if your anticipation goes wrong.
For targets at 83.440 one can bet on these instruments with shorter expiries. But in medium terms spot targets of "82.669" should not be disregarded.
One can give leveraging touch to your returns expectation if underlying pair keeps dipping by employing At-The-Money binary delta puts. But do remember these are exclusively for speculative basis.
