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CADJPY's Next Target

by Ashraf Laidi
Jun 15, 2009 12:47 | 98 Comments

CADJPY's Next Target - CADJPY June 15 (Chart 1)

A host of JPY cross pairs could see extended selling ahead of what could be 3-5% retreat in equities this week. Opting for a short play in CADJPY is backed by increased jawboning from the Bank of Canada over loonie strength--especially following the return of the trade balance to deficit territory. Last weeks release of the Q1 industrial capacity figures showed the lowest level on record. CADJPYs 6-month uptrend is supported at the 83.70 bottom of the channel. But interim selling remains ample towards 86.00, 85.20 and 84.70. Prolonged pullbacks seen driven by oil's break below $68.70.

 

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Comments (Showing latest 10 of 98) View All Comments
anauel63
london, UK
Posts: 34
15 years ago
Oct 13, 2009 22:57
well; if traders keep pushing gold & crude higher, we could definitely get there
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Oct 13, 2009 19:12
anauel, how sure are you about 1.02?

Ashraf
anauel63
london, UK
Posts: 34
15 years ago
Oct 13, 2009 11:24
USD/CAD is on its way to 10200 as forcasted
anauel63
london, UK
Posts: 34
15 years ago
Sep 8, 2009 12:34
8635 is the monthly pivot piont and 8644 is the weekly 1st resistance on CAD /JPY we gonna have a hard time breaking these levels if crude oil don't make a massive surge.
anauel63
london, UK
Posts: 34
15 years ago
Sep 7, 2009 23:01
there might be a battle within the pair as canadian TIC is steepening and more futures contracts on JPY increasing.
USD/CAD could possibly retest 10200.
houram
Vancouver, Canada
Posts: 55
15 years ago
Sep 7, 2009 20:56
Hey Moe, thanks for your reply. My target is below 83, hope we both will be right. Inshallah
Moe
Sharjah, United Arab Emirates
Posts: 50
15 years ago
Sep 7, 2009 20:48
Houram,

I am short on CAD/JPY @ 84 and although I am in the red but keeping my short till 83 as predicted by Ashraf.
houram
Vancouver, Canada
Posts: 55
15 years ago
Sep 7, 2009 20:36
Anybody shorting CADJPY today ahead of the wednesday OPEC meeting?
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Aug 10, 2009 20:51
Jack, that 4 hour USDCAD which i mentioned last Tuesday when it was at 1.0690 is now showing a reverse head and shoulder on 4 hr chart. well have to see 1.1050 next.

Ashraf
JackD
United States
Posted Anonymously
15 years ago
Aug 10, 2009 20:24
Dear Ashraf,

Now that there is a retrace on USD/CAD, is it good to load up again going long or has the move already been done.

-Jack
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