CAD/JPY detailed idea for week start 05/14/17
We are watching 3 areas of trend line support and resistance.
1 A bullish formation above of the current down trend line shortly after this weeks opening targeting the upper support/ resistance .
2 A bearish formation bellow the current inside/up trend line, targeting the lower support/resistance and/ or the outer/up trend line? *probable outcome based on technical analysis of a larger time frame*
3 A bullish formation above the downtrend line at the lower support area provided price consolidates and continues bearish trend. *probable outcome based on technical analysis of a larger time frame*
1 A bullish formation above of the current down trend line shortly after this weeks opening targeting the upper support/ resistance .
2 A bearish formation bellow the current inside/up trend line, targeting the lower support/resistance and/ or the outer/up trend line? *probable outcome based on technical analysis of a larger time frame*
3 A bullish formation above the downtrend line at the lower support area provided price consolidates and continues bearish trend. *probable outcome based on technical analysis of a larger time frame*
Komen:
Fundamental analysis is now favoring Scenario #1. The announcement that N. Korea has tested another missile over the weekend, may very likely cause investor over speculation, with the "idea" that political tensions may inhibit the future of economic growth in the region. Eager to see if a bullish breakout occurs prior to and shortly after the opening "dinger". i dislike holding weekend trade's when i see the after affects of a trade potential similar to this, rare and spontaneous, so this will be considered a new idea :). This opp may change my dislikes, maybe we are shorting the yen until after the 2018 S. Korean Games.