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12 Aug 2014
CAD/JPY breaks trend support- TDS
FXStreet (Guatemala) - We remain skeptical of CAD/JPY’s ability to rally significantly.
Key Quotes:
“Today’s move higher contrasts with the generally negative break of trend support”
“The small, late July rebound as the CAD pressured trend support off the March lows formed a small bear flag (targets 91.64, a little lower than the low 92 area we have been targeting)”.
“We think short-term CAD/JPY gains are a sell while the market remains below 94.10”.
Key Quotes:
“Today’s move higher contrasts with the generally negative break of trend support”
“The small, late July rebound as the CAD pressured trend support off the March lows formed a small bear flag (targets 91.64, a little lower than the low 92 area we have been targeting)”.
“We think short-term CAD/JPY gains are a sell while the market remains below 94.10”.