CAD/JPY: Major Technical Break

Date June 22, 2009

We have a major technical break in CAD/JPY this morning. The currency pair has broken below trend line support, the 50-day SMA and the 23.6% Fibonacci retracement of the year to date rally. Next stop could be 81.50. Lower oil prices are playing a big role in the move. Read all about it in my article today Currency Traders: All Eyes on Commodities

Category Posted in 2009 canadian dollar, Bank of Canada, Forex Technicals, forex blog

One Response to “CAD/JPY: Major Technical Break”

  1. Forex Automoney Truth said:

    June 29th, 2009 at 1:05 pm

    Very nice violation of the support trendline in the CADJPY pair here…

    I have been watching all the jpy crosses including this one too.

    Thanks for sharing such useful TA kathy.

    Cheers.

    - Jane
    http://www.forexautomoneytruth.info

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