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CAD/JPY: The short term sentiment is negative

CADJPY forecast

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FX Forecast / CAD/JPY / Our expectations:

Price under the diagonal and horizontal resistances. Ichimoku cloud shows a shift in the tendency as it moved above the price. Tenkan Sen (red line) below Kijun Sen (blue) - price action signal for short position. Inside bar and an attempt for a breakaway of the MAM bar - negative signal. CCI (50) crosses -100 - signal for a possible rising movement. SL above the Ichimoku cloud around 91.21.

Alternative scenario: Breakaway of the diagonal resistance and the Ichimoku cloud will negate this scenario and we could seek long positions above the cloud.

Trader Nikolay Georgiev


 Varchev Traders

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