CADJPY Update for January 11, 2016

11 January, 2016

CADJPY Update for January 11, 2016

CADJPY, Daily

Last week I wrote how CADJPY had been falling as there weren’t bidders for the crude oil as problems with the Chinese stock market caused the traditional safe havens, such as Japanese Yen and Gold market to rally.  I said that the move is overdone on the downside was probably overdone and we should prepare to short at higher levels. The pair rallied to my 83.93 resistance and provided short trading opportunities for those who had been to my webinars and knew what to look for. My Target 1 at 82.46 was hit earlier today after which market created a bullish pin bar at the level. This suggests that the same target level was chosen by the institutional players as well.

CADJPY has now been falling for five consecutive days. With the market trading at support after such a continuous fall it wouldn’t be a surprise if it took a breather and moved sideways before extending its move to the downside towards my Target 2 at 81.38. This is supported by the 60 min chart in which price has reached a breakout target that was based on a triangle formation. Price should be moving sideways between the 82.46 support and the above triangle formation today.


Source link  
Oil prices hold above USD 44 per barrel

Asian stock markets mostly headed south, with Australia’s ASX a notable exception. Elsewhere markets followed Wall Street lower...

Brexit Battle Finally Gets Underway

Asian stock markets are narrowly mixed in tepid markets, as oil prices stalling below USD 43 per barrel. Fed speakers...

BoE Spooks Markets

After BoE and Fed spooked markets, the BoJ’s decision to keep policy on hold and maintained its promised for ongoing stimulus...


US reports revealed modest upside surprises for December trade

Asian stock markets mostly moved higher overnight, with Nikkei and Topix was trading close to levels last seen in December 2015 as the Yen weakened...

The global stock rally continued in Asia overnight

Reuters reported, the fast-growing financial technology (Fintech) sector could hold big “systemic risks” for the banking sector and the broader economy which need to be addressed by bank regulators around the world, Bank of England Governor Mark Carney said on Wednesday...

Too-strong a dollar may hurt the economy

Japanese stock markets moved higher, led by Japanese bourses as the country managed to snap a 14-month long run of falling exports, which helped the Nikkei to close with a 1.4% gain...


Dollar found its feet after declining over the last day

Asian stock markets were mixed overnight, with Japanese bourses still under pressure (Nikkei closed down 0.55%). despite a dip in the Yen, as USD stabilised. Uncertainty over Trump’s regulatory and trade policies continues to weigh on investor sentiment...

The dollar has settled moderately lower

Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...

Stock markets continued to stabilise

German HICP confirmed at 1.7% y/y, as expected, with prices up 1.0% m/m. The sharp acceleration from just 0.7% y/y in November was mainly due to base effects from lower energy prices and the breakdown showed that prices for heating oil jumped 21.9% y/y in December...

  


Share: