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5 Aug 2013
CAD/JPY on Zero Sum trend
FXstreet.com (Chicago) - CAD/JPY erased earlier gains as price continued to drop close to 7-weeks lows.
Price action indicated a strong retracement from 95.21 intraday highs. Adding up 0.44% losses, the Canadian dollar weakened against a stronger yen across major currencies. The FXstreet trend index reported pair as slightly bullish on one-hour timeframe analysis as CCI and Momentum indicators pointing up.
Technical levels
Trading at 94.83, the pair respected supports at 94.70 (July 30 lows) ahead of 94.59 (June 27 highs) and 94.36 (July 12 lows) and resistances at 94.95 (July 31 lows), 95.12 (June 19 highs) and 95.32 (June 11 highs).
Price action indicated a strong retracement from 95.21 intraday highs. Adding up 0.44% losses, the Canadian dollar weakened against a stronger yen across major currencies. The FXstreet trend index reported pair as slightly bullish on one-hour timeframe analysis as CCI and Momentum indicators pointing up.
Technical levels
Trading at 94.83, the pair respected supports at 94.70 (July 30 lows) ahead of 94.59 (June 27 highs) and 94.36 (July 12 lows) and resistances at 94.95 (July 31 lows), 95.12 (June 19 highs) and 95.32 (June 11 highs).