CAD/JPY Accumulates Bullish Energy!

28 June 2021 | Updated: 28 June 2021

CAD/JPY has decreased a little in the short term trying to capture more energy before resuming its upwards movement. An upside breakout is imminent as the JP226 (Nikkei) could resume its growth.

A temporary decline was expected after its amazing rally. It could increase as long as it stays above the immediate support levels. Canada is to release its GDP on Wednesday. This event could bring more action to this pair.

CAD/JPY H4 Technical Analysis! 

CAD/JPY is trading in the red right now and it could retest the ascending pitchfork’s median line (ML). The selling pressure remains high as long as it stays below the upper median line (uml) of the descending pitchfork.

Making a valid breakout above the upper median line (uml) could really signal an upside continuation. The 89.825 and the median line (ML) are seen as critical support levels. Dropping and stabilizing under these levels could invalidate the bullish scenario.

 

Conclusion!

A new higher high, a valid breakout above 90.407 level could really activate an important and strong bullish movement.

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.

CAD/JPY Consolidates Ahead Of A Breakout!

24 June 2021 | Updated: 24 June 2021

CAD/JPY changed little in the short term as the buyers are exhausted. The bias is bullish, so the pair could resume its growth soon. It’s trapped within a minor continuation pattern, a valid breakout from this formation may signal an upside continuation.

The pair has slipped lower after worse than expected Canadian retail sales data. The Retail Sales indicator dropped by 5.7% versus 5.1% expected, while the Core Retail Sales decreased by 7.2% more versus the 4.4% forecast.

CAD/JPY H1 Chart Technical Analysis!

CAD/JPY has decreased a little but it has failed to retest the R1 (89.956). It has developed a minor continuation pattern on the H1 chart. Making an upside breakout and passing above the downtrend line could signal potential growth.

A minor consolidation was expected and it’s natural after the amazing rally. CAD/JPY tries to accumulate more bullish energy before jumping higher.

Conclusion!

The outlook is bullish as long as it stays above the R1 and above the median line (ML). Taking out the immediate resistance levels could bring us a new long opportunity.

 

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Olimpiu Tuns

Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.