6 May 2015
CAD/JPY likely to extend towards 101.85 – FXStreet
FXStreet (Barcelona) - FXStreet Editor and Analyst, Dhwani Mehta, sees further gains possible for CAD/JPY towards 101.85 within a week.
Key Quotes
“Technically, on daily chart, the CAD/JPY pair extends gains and edges towards previous highs around the 100 mark. As mentioned earlier, the pair finds good support at 99.05-99.15 zone. The daily RSI at 68.70 aims higher indicating more room for upside. Also, the weekly RSI turned sharply higher at 58.80 also bolsters the case for extended Bull Run.”
“Hence, we anticipate that the CAD/JPY cross could rise to 101.85 levels within this week, with the key support at 99.”
“A break below the crucial support zone, the pair could drop to 98.30 below which floors would open for a test of 97.50 levels.”
Key Quotes
“Technically, on daily chart, the CAD/JPY pair extends gains and edges towards previous highs around the 100 mark. As mentioned earlier, the pair finds good support at 99.05-99.15 zone. The daily RSI at 68.70 aims higher indicating more room for upside. Also, the weekly RSI turned sharply higher at 58.80 also bolsters the case for extended Bull Run.”
“Hence, we anticipate that the CAD/JPY cross could rise to 101.85 levels within this week, with the key support at 99.”
“A break below the crucial support zone, the pair could drop to 98.30 below which floors would open for a test of 97.50 levels.”