CADJPY continues to unfold a bearish pattern
CADJPY had already broken down from a major bullish trend that began on May 25, peaking at 108.95 on August 1.
One week ago, the pair confirmed a clear bearish breakout, dropping nearly 80 pips. According to our previous analysis, CADJPY increased to 107.20 and resumed its bearish movement.
We should not forget that the downward movement is very much related to the Bank of Japan. They need to intervene in the Forex so that the JPY strengthens again.
It is not that simple in general, but the situation indicates a larger decline.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
CADJPY had already broken down from a major bullish trend that began on May 25, peaking at 108.95 on August 1.
One week ago, the pair confirmed a clear bearish breakout, dropping nearly 80 pips. According to our previous analysis, CADJPY increased to 107.20 and resumed its bearish movement.
We should not forget that the downward movement is very much related to the Bank of Japan. They need to intervene in the Forex so that the JPY strengthens again.
It is not that simple in general, but the situation indicates a larger decline.
You may find more details in the chart!
Thank you and Good Luck!
PS: Please support with a like or comment if you find this analysis useful for your trading day
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
✅MY FREE Signals Channel
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅Suggested News Channel
t.me/ForexNewsNavigator_Official
✅MY Recommended Broker is TRADE NATION
🔸bit.ly/49VySJF
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.