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CADJPY: Keep an Eye on 83.80 Next Week
The last time I discussed CADJPY was back on December 18th of last year. We were trading a bearish break from an ascending channel that began in 2016. In fact, there were two channels in play at the time. Within nine trading days, CADJPY fell an additional 650 pips following the retest of the 85.00 resistance area in mid-December. The January 3rd flash crash delivered nearly half of those losses on its own. Since that low on the 3rd, CADJPY has managed to claw back nearly 600 pips. Buyers are now approaching levels we discussed on the 18th of last month. Two days ago, the pair managed to clear the 82.15 resistance ... (full story)