Sunday, June 21, 2009

CAD/JPY


CAD/JPY seems to have met reasonable resistance at 86.00. If it continues to drop and make a bearish run through 84.00 we may see a 400 point decline over the next few days, to one week. Additionally, the stochastics are starting to create a negative slope whcih is indicated by the purple line. Failure to break 84.00 with a continuation down; the pair may find suport and proceed to follow the trend to the upside with potential to break 89.00.

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