The Canadian Dollar Yen.
Good morning all,
Today I am doing a morning update as other things have to be done before the webinar tonight.
A chart which has caught my eye is of the CADJPY, this has been in consolidation, ranging from about June 09, but at the tail end of March did break-out of the high of that range, to reach a high on 7th April and then to fall back down to where price is of Friday.
This area, is once again the high of the range/consolidation, which is being re-tested and could see former reistance becoming support which has the added confluence of the strong RN to try and aid it in holding.
This is looking good for a possible continuation trade and entry would be by ESLT , whilst for the more conservative of you a break of the high would be a better entry for you.
As always please ensure to do your own analysis before trading.
Charts courtesy of AdvancedGet.