CAD/JPY breaks 61.8% retracement

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CAD/JPY is breaking down as sentiment deteriorates.

Losses might be limited in the near term with the 200-dma supporting USD/JPY and offers at parity weighing on USD/CAD.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2012-11-08T16:25:48+0000

All|Americas|Regions|Technical Analysis

USD/CAD

Adam Button

3 Comments

  1. Hi Adam, please whats causing the joy movement. Thanks

  2. usdcad slowly eating away at them……

  3. Quite interesting that Canada is buying so much stuff from Japan. Or is Japan selling assets in Canada ?

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