FXStreet (Barcelona) – The Varengold Bank Research Team warns of a possible short decline in CAD/JPY, while the trend remains long as long as the pair remains in the bullish channel.
Key Quotes
“Technically the CADJPY is immerse in a bullish channel since the beginning of this year. It is possible also to see in the chart below, another channel within the first one. According to this, the trend is clearly long, while the price remains above the bottom side of the channel (1).”
“Below, 96.50 would be an important support to consider. At the moment, the pair is fighting with the 100 resistance, so a short decline might be also possible.”
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