Daily Forex Chart Art - Jan. 15, 2016

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    CAD/JPY: 1-hour After hitting support around the 81.50 area, CAD/JPY has pulled back and is encountering resistance at the 82.25 zone. This isn’t exactly surprising, since it’s right smack at a previous support, 38.2% Fib retracement level, and 100 SMA roadblocks. Talk about being locked in tight! The cherry on top of the bears’ sundae is Stochastic’s overbought signal. Think the Loonie will see more losses against the yen? A short trade with stops above the SMA could get you decent pips if

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