A Brain Teaser

Good Morning Dynamic Traders!

Today I have chosen to conduct a savoury analysis on the CAD JPY cross.

The monthly chart has modelled a long term mounting march since 1999.

The medium to short term flow has flaunted a collapse of this dominance, most visible in October last year.

Let's take a look at the weekly chart below.

The last two months has seen price deliberating a prominent fib ext level. Clearly, at some stage, a shift in one direction or the other is imminent.

The gravestone doji is ostentatiously presenting indecision, leaning towards a downward turn, but MacD behaviour supported unanimously by our dynamic studies, indicate escalating strength.


cadjpy weekly chart Advanced Get

Below is the daily chart for the same.

We have witnessed an undeniable decline since July last year.

Note the recent price retracement to a marked fib level. The hardy trend line resistance has driven it back down to an alternative breather point.

Subchart indicators and on-screen studies are also smiling in appreciation of continued weakness,

Dynamic Traders are well aware that although conflicting studies may present a puzzling picture, success in trading lies in the ability to make oneself available to any market offering.


cadjpy daily chart Advanced Get

Intellectual trading!

Saba Jackson