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CADJPY lost its shine after dismal Canadian jobs data. It hit a high of 106.76 at the time of writing and is currently trading around 106.98.
|
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
12:30 PM |
CAD |
Employment change |
22.1K |
23.7K |
-2.8K |
|
12:30 PM |
CAD |
Unemployment rate |
6.60% |
6.50% |
6.40% |
Technicals-
The pair trades above 34- and 55 EMA in the hourly chart.
The near-term resistance is around 106.35, a breach above targets 106.75/107.25/108. The immediate support is at 105.40, any violation below will drag the pair to 105/103.95.
Indicator ( hourly chart)
CCI (14)- Bullish
CCI (50)- Bearish
Average directional movement Index- Neutral. All indicators confirm a mixed trend.
It is good to sell on rallies around 106.28-30 with SL around 106.76 for a TP of 105.
