CADJPY has sold off aggressively in the past few weeks, with the pair falling to 73.85 – a zone last seen in 2011 – before rebounding somewhat. The outlook therefore seems to have turned negative, something endorsed by the 200-day simple moving average (SMA) crossing below the 50-day one to form a ‘death cross’. That said, a break below 73.85 is needed to confirm the downtrend. Short-term oscillators paint a bearish picture too. The RSI looks ready to test its [..]
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