Category: CADJPY

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CADJPY Weekly Forex Forecast 1st December to 7th December by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 91.65 would begin in Midterm.
Technical analysis:

The descending flag taking shape suggests we will soon see another leg lower.
While the RSI resistance #1 at 56 is not broken, the probability of price increase would be too low.
The RSI bounced from the support #2 at 35 and it prevented price from more losses.
A trough is formed in daily chart at 84.60 on 11/20/2018, so more gains to resistance(s) 85.65, 86.90, 87.45 and maximum to Major Resistance (91.65) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.

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CADJPY Weekly Forex Forecast 24th November to 30th November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 91.65 would begin in Midterm.
Technical analysis:

The descending flag taking shape suggests we will soon see another leg lower.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
The RSI bounced from the support #2 at 35 and it prevented price from more losses.
A trough is formed in daily chart at 84.60 on 11/20/2018, so more gains to resistance(s) 85.65, 86.90, 87.45 and maximum to Major Resistance (91.65) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 43.

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CADJPY Weekly Forex Forecast 12th November to 18th November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 91.65 would begin in Midterm.
Technical analysis:

The descending flag taking shape suggests we will soon see another leg lower.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
While the RSI support #2 at 42 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 87.00 on 11/08/2018, so more losses to support(s) 85.65, 85.05, 84.25 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 48.

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CADJPY Weekly Forex Forecast 28th October to 3rd November by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 91.65 would begin in Midterm.
Technical analysis:

The descending flag taking shape suggests we will soon see another leg lower.
The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
While the RSI resistance #2 at 51 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 86.90 on 10/16/2018, so more losses to support(s) 85.05, 84.25, 83.50 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 39.

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CADJPY Weekly Forex Forecast 14th October to 20th October by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast beginning of downtrend.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
The RSI uptrend #2 is broken, so the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 89.20 on 10/03/2018, so more losses to support(s) 85.70, 85.05, 84.25 and more depths is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.

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CADJPY Weekly Forex Forecast 6th October to 12th October by yshashmi37 on TradingView.com

Midterm forecast:

87.35 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A peak is formed in daily chart at 89.20 on 10/03/2018, so more losses minimum to Major Support (87.35) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 59.

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CADJPY Weekly Forex Forecast 16th September to 22nd September by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 87.35 would begin in Midterm.
Technical analysis:

While the RSI uptrend #1 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 83.75 on 09/06/2018, so more gains to resistance(s) 86.20, 86.75 and maximum to Major Resistance (87.35) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 58.