22 Jan 2015
CAD/JPY a fade on minor rallies - TDS
FXStreet (Guatemala) - Analysts at TD Securities explained that the technical picture in CAD/JPY had turned a bit more constructive on the outlook.
Key quotes:
"But the tentative rebound stalled against short-term trend channel resistance in the upper 97s and the heavy sell off to new short-term cycle lows today clearly tilts risks back towards the low end of the trend channel in the near-term."
"Bearish trend momentum signals are aligning across the short, medium and longer-term time frames, which makes CAD/JPY a sell on minor rallies from here now."
Key quotes:
"But the tentative rebound stalled against short-term trend channel resistance in the upper 97s and the heavy sell off to new short-term cycle lows today clearly tilts risks back towards the low end of the trend channel in the near-term."
"Bearish trend momentum signals are aligning across the short, medium and longer-term time frames, which makes CAD/JPY a sell on minor rallies from here now."