{"id":59139,"date":"2014-08-22T04:57:26","date_gmt":"2014-08-22T08:57:26","guid":{"rendered":"http:\/\/countingpips.com\/?p=59139"},"modified":"2014-08-22T07:16:30","modified_gmt":"2014-08-22T11:16:30","slug":"cadjpy-looks-set-for-more-gains-ahead-of-key-risk-events","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/cadjpy-looks-set-for-more-gains-ahead-of-key-risk-events\/","title":{"rendered":"CADJPY Looks Set For More Gains Ahead Of Key Risk Events"},"content":{"rendered":"
August 22, 2014<\/div>
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Visit our website \u2013 Ikofx<\/a><\/strong><\/em><\/p>\n

The Canadian dollar is trading higher against the Japanese yen. The key reason for the rise in the CADJPY pair is weakness in the Japanese yen across the board. This has encouraged the Canadian dollar buyers to take it higher. There are several important risk events lined up later during the NY session, which can affect the CADJPY to a greater extent. The first one to keep an eye on is the Canadian inflation data, which will be released by the statistics Canada. One more important economic data which will be released is the Canadian retail sales data. If the outcome of the mentioned events comes in line with the expectations, the there is a high probability of the CADJPY pair trading higher.<\/p>\n

There is a critical bullish trend line formed on the 4 hour chart for the EURUSD pair, which is currently acting as a support for the pair. One key point to note here is that the pair is trading above the 200 and 100 moving average, which can be considered as a positive sign. If the pair dips from the current or a bit higher levels, then there is a chance that the pair might find buyers around the mentioned bullish trend line. The same trend line is also coinciding with the 23.6% fib retracement level of the last leg higher from the 92.75 low to 94.95 high. Only a break below the trend line might increase the bearish pressure on the pair.<\/p>\n

\"CADJPY<\/a><\/p>\n

On the upside, initial resistance can be seen around the last high of 95.20, followed by the all-important resistance area at 96.00.<\/p>\n

Overall, buying dips is a good option until the pair is trading above the highlighted trend line.<\/p>\n

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Visit our website \u2013 Ikofx The Canadian dollar is trading higher against the Japanese yen. The key reason for the rise in the CADJPY pair is weakness in the Japanese yen across the board. This has encouraged the Canadian dollar buyers to take it higher. There are several important risk events lined up later during […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-59139","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59139","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=59139"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59139\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}