{"id":50120,"date":"2014-04-25T12:16:20","date_gmt":"2014-04-25T16:16:20","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=50120"},"modified":"2014-04-25T12:16:20","modified_gmt":"2014-04-25T16:16:20","slug":"cadjpy-takes-stroll-outside-range","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2014\/04\/25\/cadjpy-takes-stroll-outside-range\/","title":{"rendered":"CAD\/JPY Takes a Stroll Outside The Range"},"content":{"rendered":"<p>Technical Sentiment: <strong>Bearish<\/strong><\/p>\n<p><strong>Key Takeaways<\/strong><br \/>\n\u2022 CAD\/JPY range broke towards the downside;<br \/>\n\u2022 Immediate support is located at 92.25;<br \/>\n\u2022 Gloves come off below 92.25 where volatility will inevitably increase.<br \/>\n<em>On 14th April CAD\/JPY completed a 61.8% Fibonacci Retracement for March-April bullish swing. The technical bounce was short lived however, and the pair entered a perfect range between 92.57 and 93.27, with multiple confirmations for both levels. The potential of the range break-out may be severely limited by April\u2019s Low.<\/em><\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/04\/CADJPY-4h-25thApril.png\" alt=\"\" \/><\/p>\n<p>Usually, a perfect range formation should not be taken too lightly, especially when price finally breaks outside its boundaries. Yet when all things are considered, CAD\/JPY bearish break-out should be treated with extreme caution, as traders may be looking to test the 92.25 support before launching back up.<\/p>\n<p>Price crossed below the 50-Day Moving Average and the 200 Simple Moving Average on the 4H. The real confirmation for a bearish continuation will come on a break and consolidation below 92.25, 61.8% Fibonacci Retracement and April\u2019s Low. This would open the way lower, towards 91.20 and ultimately 90.64.<\/p>\n<p>Stochastic is entering oversold territory on 1H, 4H and Daily. A second Fibonacci bounce at 92.25, preferably coupled with bullish price action signals, would immediately bring back the bullish factor and target 93.25 as a result.<\/p>\n<p>Support levels: 92.25; 91.20; 90.64.<br \/>\nResistance levels: 92.56; 93.25; 93.89; 94.86.<\/p>\n<p>*********<br \/>\nPrepared by Alexandru Z., Chief Currency Strategist at <a href=\"http:\/\/www.capitaltrustmarkets.com\/\">Capital Trust Markets<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bearish Key Takeaways \u2022 CAD\/JPY range broke towards the downside; \u2022 Immediate support is located at 92.25; \u2022 Gloves come off below 92.25 where volatility will inevitably increase. On 14th April CAD\/JPY completed a 61.8% Fibonacci Retracement for March-April bullish swing. The technical bounce was short lived however, and the pair entered a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2014\/04\/25\/cadjpy-takes-stroll-outside-range\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CAD\/JPY Takes a Stroll Outside The Range&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-50120","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/50120","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=50120"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/50120\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=50120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=50120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=50120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}