An end of a cycle and start of our profits - CAD/JPY
Hello everyone,
Today I would like to share with you one of my weekly trading plans based on the CAD/JPY currency pair. As usual the technical analysis is made as a video, which you can check on our Youtube channel. Below I will cover all the areas regarding which we spoke in the video in numbers and I will make a short fundamental analysis for this week.
Live Signals will be posted on our Telegram channel and on our Twitter page, so follow up.
Zones:
Weekly Resistance Area: 88.17 to 89.40
Weekly Resistance Area - TOP: 90.77 to 91.65
First Daily Support - Target 1: 86.84 to 86.45
Second Daily Support - Target 2: 85.68 to 85.35
Fundamental Analysis:
Friday - 4th of October
12:30 GMT (15:30 Bulgarian time)
CAD Unemployment Rate
CAD Net Change in Employment
The forecasted change is negative against the previous reading, meaning that we can expected the CAD to weaken, which will give us good opportunities to go short on the CAD/JPY currency pair. Of course there might be surprises, but overall I expect a close to the forecasted reading or even lower, meaning a stronger impact on the Canadian Dollar and a further drop in the price of the currency pair.
Our team wishes you a good and profitable week! :)
Today I would like to share with you one of my weekly trading plans based on the CAD/JPY currency pair. As usual the technical analysis is made as a video, which you can check on our Youtube channel. Below I will cover all the areas regarding which we spoke in the video in numbers and I will make a short fundamental analysis for this week.
Live Signals will be posted on our Telegram channel and on our Twitter page, so follow up.
Zones:
Weekly Resistance Area: 88.17 to 89.40
Weekly Resistance Area - TOP: 90.77 to 91.65
First Daily Support - Target 1: 86.84 to 86.45
Second Daily Support - Target 2: 85.68 to 85.35
Fundamental Analysis:
Friday - 4th of October
12:30 GMT (15:30 Bulgarian time)
CAD Unemployment Rate
CAD Net Change in Employment
The forecasted change is negative against the previous reading, meaning that we can expected the CAD to weaken, which will give us good opportunities to go short on the CAD/JPY currency pair. Of course there might be surprises, but overall I expect a close to the forecasted reading or even lower, meaning a stronger impact on the Canadian Dollar and a further drop in the price of the currency pair.
Our team wishes you a good and profitable week! :)
