Wednesday, October 9, 2013

CADJPY USDJPY USDCAD 131009

CADJPY


CADJPY on the daily in a very big triangle pattern, that it has been following.
support is at 92.50 - 92.30.


On the H4, 9KAMA near 94.00 + decending trendline that has been respected.


On the daily, an inverted hammer has formed that bounced off the 78.6 retracement of a possible gartley pattern. 

Possible to go short at 94.00 with SL above, TARGET SUPPORT AT 92.50 - 92.30, but failure to break recent lows at 93.36 and bounce could mean a larger retracement to 95.50 which is the 50% retracement of the most recent down move. 

USD JPY


USDJPY on the daily could retest trendline at 98.15.


USDJPY on the weekly forming a very small hammer, an inverted hammer form last week. (candle unclosed)

USDCAD


USDCAD on the daily has finally broken out of the resistance at 1.0355. Currently oversold on the daily.


USDCAD on the H4 nearing oversold. Above both 9KAMA and 200 KAMA. 9 KAMA pointing up. Challenging the 50% retracement of the most recent down move.

Weekly R2 is at 1.0388.

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