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CADJPY Technical Analysis


pepy

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CADJPY on h1 chart show there are 3 white soldiers formed and the price is testing pivot line right now. RSI and Stochastic both are bullish and MACD formed higher high. Based on the analysis i made for this pair it may rise but limited up to 83.75 if this pair is able to break the pivot line first and established the price above pivot.

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Bullish confirmed, the price also make a bullish engulfing pattern on h1 chart, cadjpy after that rejected by EMA50 and parabolic sar is still moving below the current candle. As for RSI the signal is oversold but Stochastic is bearish at level 32. The bullish will be limited based on my analysis with the target at most at 84.35

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CADJPY seems getting pressured by seller after failed to break SMA80. With the price which is still moving below SMA80 and Pivot line indicated that there is a strong bearish sentiment. Stoch and RSI show bearish signal with fall to level 17 and level 24. MACD also make a low high formation. The resistance for bearish with this analysis is at 90.00

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