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2 Oct 2013
CAD/JPY stumbles to 94.53, 25-day lows
FXstreet.com (Chicago) - CAD/JPY fell to 94.53 extending the downward trendline that started last September 19th (double tops with July 24th highs).
CAD/JPY Technical Levels
Price action reveals a short-term trend matched with primary and secondary trends pointing down. As the yen continues strengthening, the loonie weakens but the pair seems to find grounds around 94.60. Offered at 94.60, the pair oscillates between supports aligned at 93.79 (August 9th highs), 92.21 (August 10th lows) ahead of 91.08 (April 2nd lows) and the resistances set at 95 (August 20th highs), 96.25 (August 2nd highs) followed by 97.49 (September 19th highs). Reported as slightly bearish on one-hour timeframe analysis by the FXstreet.com trend index, the pair is below the EMA20.
CAD/JPY Technical Levels
Price action reveals a short-term trend matched with primary and secondary trends pointing down. As the yen continues strengthening, the loonie weakens but the pair seems to find grounds around 94.60. Offered at 94.60, the pair oscillates between supports aligned at 93.79 (August 9th highs), 92.21 (August 10th lows) ahead of 91.08 (April 2nd lows) and the resistances set at 95 (August 20th highs), 96.25 (August 2nd highs) followed by 97.49 (September 19th highs). Reported as slightly bearish on one-hour timeframe analysis by the FXstreet.com trend index, the pair is below the EMA20.