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26 Jun 2015
CAD/JPY: leaning bearish - TDS
FXStreet (Guatemala) - Analysts at TD securities noted the technical conditions surrounding CAD/JPY.
Key Quotes:
"CAD/JPY looks better supported intraday and a decent bounce from the base of the June trading band might well extend a little more in the next few days. The cross is consolidating though and trend momentum is tracking a negative course on the short-term (intraday and daily studies)."
"We rather think CAD/JPY remains blocked below 101 for the moment and might struggle to get much above 100.50. Broader price signals (weekly) are turning a little more negative, reflecting the broader loss of momentum (narrowing, upward sloping range) that has developed in the past few weeks. We are leaning bearish here."
Key Quotes:
"CAD/JPY looks better supported intraday and a decent bounce from the base of the June trading band might well extend a little more in the next few days. The cross is consolidating though and trend momentum is tracking a negative course on the short-term (intraday and daily studies)."
"We rather think CAD/JPY remains blocked below 101 for the moment and might struggle to get much above 100.50. Broader price signals (weekly) are turning a little more negative, reflecting the broader loss of momentum (narrowing, upward sloping range) that has developed in the past few weeks. We are leaning bearish here."