24 Jun 2015
CAD/JPY technical conditions prone to a correction - TDS
FXStreet (Guatemala) - Analysts at TD securities explained the technical conditions surrounding CAD/JPY.
Key Quotes:
"The cross is capped around 101 and supported at 99.50, with trend support just above 100 doing an adequate job of holding up the market at this point."
"Note that trend momentum is weakening still, suggesting little or no positive impulse behind the market."
"We think the narrowing, upward sloping range in CAD/JPY over the past few weeks points to a tired rally that is prone to a correction, if only as modest one."
Key Quotes:
"The cross is capped around 101 and supported at 99.50, with trend support just above 100 doing an adequate job of holding up the market at this point."
"Note that trend momentum is weakening still, suggesting little or no positive impulse behind the market."
"We think the narrowing, upward sloping range in CAD/JPY over the past few weeks points to a tired rally that is prone to a correction, if only as modest one."