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Technical analysis

17.12.202408:12 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of CAD/JPY Cross Currency Pairs, December 17, 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.

Exchange Rates 17.12.2024 analysis

If we look at the 4-hour chart of the CAD/JPY cross currency pair, there appears to be a deviation between the price movement of the currency pair and the Awesome indicator, coupled with its price movement moving above the WMA (30 Shift 2), it seems that in the near future CAD/JPY has the potential to continue its strengthening even though there is the potential for a momentary correction where the Bullish Fair Value Gap level may be tested, but as long as the weakening correction does not break through and close below the 107.27 level, CAD/JPY has the potential to continue its strengthening to the 109.25 level and if momentum and volatility support it, 110.33 will be the next target.

(Disclaimer)

Arief Makmur
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