Wednesday, June 3, 2020
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Technical Analysis – CAD/JPY remains positive

CAD/JPY remains positive despite pressure from sellers. CAD/JPY is fading following attempts to close a session above the 84.34 resistance from April 2019. Despite the overwhelming positive sentiment – reflected in the upward slopes of the Ichimoku lines and the 20-, 50- and 100-day simple moving averages (SMAs) – the technical indicators suggest

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Technical Analysis – CAD/JPY breaks the downtrend line

CAD/JPY breaks the downtrend line, flirts with 61.8% Fibonacci. CADJ/PY has developed a short-term uptrend over the last month, which has now, broke the downtrend line to the upside. Currently, the upward move seems to be temporarily stalling as it encounters the 61.8% Fibonacci retracement level of the down move from 85.22 to the five-month low of 79.96 of 83.22. Both the MACD and the RSI

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