Disclaimer: Information contained herein is the opinion of the author and should not be used for personal trading strategies. Forex Trading is extremely challenging and often results in substantial losses. Good luck to all with their ventures into FX Trading!
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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