{"id":14271,"date":"2010-10-21T09:05:12","date_gmt":"2010-10-21T13:05:12","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=14271"},"modified":"2010-10-21T09:05:12","modified_gmt":"2010-10-21T13:05:12","slug":"cad-likely-to-see-upward-movement-against-yen","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/10\/21\/cad-likely-to-see-upward-movement-against-yen\/","title":{"rendered":"CAD Likely to See Upward Movement Against Yen"},"content":{"rendered":"<p><strong>By Dan Eduard<\/strong> &#8211; Over the last several weeks, the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2010\/10\/20\/canada%e2%80%99s-dollar-loses-ground-as-central-bank-cuts-growth-forecast\/\">Canadian dollar <\/a>has  been steadily losing ground to the Japanese yen.  The yen, widely  considered to be a safe-haven currency, has been making gains across the  board as investors continue to shy away from risk taking.  Since  October 7th, the CAD\/JPY pair has gone down over 250 pips.  As we will  demonstrate through a number of technical indicators, the pair may be  due for an upward correction.<\/p>\n<p>We will be looking at the daily chart for <a href=\"http:\/\/www.forexyard.com\/en\/trading\/cad-jpy\">CAD\/JPY<\/a>, provided by Forexyard.  The technical indicators we will use are the Williams Percent Range, <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Stochastic Slow <\/a>and the <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">Relative Strength Index (RSI).<\/a><\/p>\n<p>1. The Williams Percent Range is currently right above the -80 level.   Should the indicator drop below -80, traders could take this as a sign  that the pair is in oversold territory and due for a bullish  correction.<\/p>\n<p>2. Traders will notice the bullish cross formed below the support  line on the Stochastic Slow.  Typically when a cross, such as the one  shown here forms, an upward correction takes place.<\/p>\n<p>3. Finally, in what may be our strongest signal yet of an impending  bullish move, the RSI is floating in oversold territory, and has been  for some time.  Traders can take this as a sign that the pair will see  an upward correction in the very near future.<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/tech-21.10.bmp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/10\/tech-21.10.bmp\" alt=\"\" width=\"545\" height=\"492\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                                                                                may     not    be           suitable         for         all                        investors.              There          is    a                                            possibility                  that                       you           could                      sustain a     loss             of    all          of            your                                       investment     and                                  therefore    you                          should       not                    invest                   money        that         you                           cannot                 afford to                        lose.     You                        should         be              aware          of                all           the           risks                              associated             with                 Foreign                    Exchange                           trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Dan Eduard &#8211; Over the last several weeks, the Canadian dollar has been steadily losing ground to the Japanese yen. The yen, widely considered to be a safe-haven currency, has been making gains across the board as investors continue to shy away from risk taking. Since October 7th, the CAD\/JPY pair has gone down &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/10\/21\/cad-likely-to-see-upward-movement-against-yen\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;CAD Likely to See Upward Movement Against Yen&#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-14271","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=14271"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/14271\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=14271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=14271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=14271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}