01.08.202406:36 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs, Thursday August 01, 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

With the appearance of deviations in the daily chart between the CAD/JPY price movement forming a higher high while the Momentum indicator forms a higher low plus the Uptrendline being broken and going through, it is confirmed that CAD/JPY is currently being dominated by sellers, although a strengthening correction could occur, but as long as the strengthening correction does not breaks above the 118.82 level, CAD/JPY has the opportunity to continue its weakening back to the 104.48 level and will continue to weaken to the 100.54 level if the momentum and volatility support it.

(Disclaimer)

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.