Chart Of The Day: Failure To Cross Adjacent Resistance-Region Drags CADJPY Downwards

Thu, 10 Jan 2019 11:42

With the 82.40-55 resistance-region aptly restricting CADJPY's upside, the pair is likely declining towards 80.65-55 support-zone, breaking which 80.00 round-figure may get market attention. Should prices continue trading southwards past-80.00, the 79.60, the 79.00 and the 78.20 can entertain Bears prior to pleasing them with 77.15 mark.

Meanwhile, an upside clearance of 82.55 could help the pair to aim for 83.30 and the 83.70-80 numbers to north. Moreover, pair's successful rise beyond 83.80 might avail 84.25 and the 84.70 barriers as intermediate halts before confronting the 85.15-20 resistance-area.

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