CADJPY seems to be trading around the 82.07 level, in a vicinity where the 20-, 50- and 200-day simple moving averages (SMAs) have converged around. The pair looks unsure and may continue a sideways market, something also backed by the flatness and convergence of the SMAs. Further aiding this view, is the dry up in directional momentum reflected from the short-term oscillators. The MACD and the RSI are only just in the bearish region, barely below their neutral marks. If [..]
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