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CADJPY upward zigzag within Fibonacci channel

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    One of the pairs I like to watch and trade especially when USDJPY is slow, is CADJPY. CADJPY is also correlated to oil market and app 48 % of Japan energy requirements are met with Crude Oil. When price of oil goes up, its worse for Japanese economy and it usually weakens the Yen. Technically, CADJPY is in uptrend that started to develop after a major trend line break and the price is still within the first the first zonal support and resistance in Fibonacci channel. The lower part of the

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