stars of the week

Star of the week CADJPY

Every week we are looking at which currency pairs are moving and trending. What is worth following right now? We like to name these currency pairs “the star of the week“.

This time we are giving you a technical analysis for a currency pair that we really want to look at, the CADJPY. We will definitely watch this pair very carefully for the next few days.

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stars of the week

Why I think CADJPY will be the star of the week

The CADJPY has had a long run uphill for some time now, certainly for this month and this past week. Seems it is due for a retracement at least in the longer term. Here we we have the daily poised to retrace further down while the Hourly is looking like it will retrace up a bit.


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A quick look at the CADJPY currency pair

DAILY this pair has made a steady progression uphill for some time following an up trend line. It is retracing down at the moment and should hit the .236 at 89.811 giving 69 pips, however the rsi would be in the buy zone and it should then go up to the .270 at 92.732 giving 251 pips.

CADJPY Daily June 8 2021
CADJPY Daily June 8 2021

HOURLY had a sizeable move down to the halfway between the .236 and the .180 and appears to moving sideways to the the down trend line. The rsi is in the buy zone and appears ready to move up to the sell zone to the .236 at 90.614 giving 23 pips. If it moves to the .382 at 90.714 this would give 32 pips.

CADJPY Hourly June 8 2021
CADJPY Hourly June 8 2021

NZD USD in the news

NZD/USD Technical Analysis for the Week of July 7 2020

NZD/USD has been trading on a bullish trend since the middle of March,when this pair came back from the dead, following the big crash from the coronavirus outbreak. This forex pair made a strong reversal during the second half of that month and after some slight upward momentum during April and May, the momentum picked up pace in June.

FX Leaders think that MAs Keeping NZD/USD Bullish Again This Week

We provide new trading analysis every week

Was this article helpful for you? What do you think of the USD MXN and EUR JPY currency pairs? I often use Pivot points in my analysis. I have already written an article where I explained in detail how target trading works.

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Disclaimer:

Before participating in Foreign Currency Trading (Forex Market) you must consider carefully the risks of the market, which has big rewards potential, yet is also extremely risky. Consider all the risks carefully before investing in the Forex Market. Remember that all the information and signals, prices and trade recommendations provided here on Forex and Profits is only general information and market commentary, thus, it does not incorporate investment advice.

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