{"id":59168,"date":"2014-08-22T12:47:40","date_gmt":"2014-08-22T16:47:40","guid":{"rendered":"http:\/\/countingpips.com\/?p=59168"},"modified":"2014-08-22T15:06:49","modified_gmt":"2014-08-22T19:06:49","slug":"buyers-aim-for-96-as-cadjpy-crosses-resistance","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2014\/08\/buyers-aim-for-96-as-cadjpy-crosses-resistance\/","title":{"rendered":"Buyers Aim For 96 as CAD\/JPY Crosses Resistance"},"content":{"rendered":"<div id=\"inves-1288883740\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">August 22, 2014<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Technical Sentiment: <span style=\"color: #008000;\"><strong>Bullish<\/strong><\/span><\/p>\n<p><strong>Key Takeaways<\/strong><\/p>\n<ul>\n<li>Canada Core CPI m\/m (-0.1%) and CPI m\/m (-0.2%) slightly disappointed;<\/li>\n<li>Core Retail Sales m\/m rose to 1.5%, well above the consensus;<\/li>\n<li>Pair dipped in earlier sessions and quickly recovered above the 94.90 resistance.<\/li>\n<\/ul>\n<p><em>Price action indicates more gains are in store for CAD\/JPY early next week, despite mixed signals earlier today.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p><strong>Technical Analysis<\/strong><\/p>\n<p><a href=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/CADJPY-22nd-August.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5942\" src=\"http:\/\/capitaltrustmarkets.com\/wp-content\/uploads\/2014\/08\/CADJPY-22nd-August.png\" alt=\"CADJPY 22nd August\" width=\"700\" height=\"341\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">On Thursday Yen continued to underperform while the Canadian dollar maintained a bullish bias ahead of CPI and Retail Sales reports, making it easy for traders to lift CAD\/JPY and close just above a very strong price pivot zone at 94.86\/89. Friday saw a bit of a shake-out as price dipped back to the 50-Day Simple Moving Average at 94.46, only to rally back into bullish territory towards the end of the day.<\/p>\n<p style=\"text-align: justify;\">Stochastic remains in overbought territory on both 4H and Daily time frames, however this bullish swing can easily continue while price keeps making quick intra-day corrections. Daily price action shows a bullish engulfing pattern, indicating more upside rather than topping conditions. Buyers will be looking for one final confirmation on Monday: a break above Friday\u2019s High (currently priced at 94.94) will pave the way up to 95.79 \u2013 96.22. Short term bullish potential exhausts in this location, so trade accordingly.<\/p><div id=\"inves-2793079945\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p style=\"text-align: justify;\">Failure to remain above 94.89 followed by dips below the 50-Day Simple Moving Average will not constitute valid sell signals. Main trend remains bullish, so the 200-Day or 100-Day SMAs can still catch the pair from falling too much. The preferred strategy at this time should be limited to buying dips and bullish price action signals.<\/p>\n<p>*********<br \/>\nPrepared by Alex 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","protected":false},"excerpt":{"rendered":"<p>Technical Sentiment: Bullish Key Takeaways Canada Core CPI m\/m (-0.1%) and CPI m\/m (-0.2%) slightly disappointed; Core Retail Sales m\/m rose to 1.5%, well above the consensus; Pair dipped in earlier sessions and quickly recovered above the 94.90 resistance. Price action indicates more gains are in store for CAD\/JPY early next week, despite mixed signals [&hellip;]<\/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-59168","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59168","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=59168"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/59168\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=59168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=59168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=59168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}