Back
27 Feb 2015
CAD/JPY remains range-bound - TDS
FXStreet (Guatemala) - Analysts at TD Securities noted the conditions surrounding the CAD/JPY from a technical position.
Key Quotes:
"We noted yesterday that price signals were mixed (bearish weekly signals last week versus bullish price signals earlier this week on the daily chart) and that the trend momentum signals were also flat—indicating a nontrending environment."
"On the face of it, the bearish story probably has the edge at the moment as the weekly turn lower in the cross came at an important (retracement resistance) juncture and there has (so far) been little follow up on the Tuesday CAD bounce. Look for a softer CAD to emerge here while 96.45/50 holds."
Key Quotes:
"We noted yesterday that price signals were mixed (bearish weekly signals last week versus bullish price signals earlier this week on the daily chart) and that the trend momentum signals were also flat—indicating a nontrending environment."
"On the face of it, the bearish story probably has the edge at the moment as the weekly turn lower in the cross came at an important (retracement resistance) juncture and there has (so far) been little follow up on the Tuesday CAD bounce. Look for a softer CAD to emerge here while 96.45/50 holds."