USD/JPY rose to the resistance of the 50-week MA at 106.00. The pair is not at the resistance line since the end of December.
CAD/JPY turned down
Information is not investment advice
CAD/JPY recovered last week to the 78.00 area (38.2% Fibonacci of the February-March decline), but then turned down again getting back below the 50-period MA on the H4. On the H1, the pair formed a lower high. The resulting pattern resembles a bearish “Head and Shoulders”. This allows expecting a short-term top and a retest of support line in the 75.30 area. The outlook for the pair will improve only if the price gets above 78.50.
Trade ideas for CAD/JPY
SELL 76.15; TP 75.30; SL 76.30
Tesla dropped amid the wider stock sell-off and by that erased all its gains for this year. Is it a good time to buy it or not yet?
Ichimoku Kinko Hyo EUR/JPY: The pair is trading below the cloud…
Ichimoku Kinko Hyo NZD/JPY: The pair is trading below the cloud…