Forex Trading recommendation on CADJPY 3-06-2016 by AzaForex forex broker, online trading, ,scalping, forex news

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The Canadian dollar fell again to a strong support level of the range. For several days now, the currency pair changes in price within 250 points. Given the strength of the Japanese Yen, which is reflected on all foreign exchange charts, one can expect that the bears will make the attempt to break below the support level. Our goal is not big fits into all of the Fibonacci ratio by motion at the breakout.
 
The price is below a simple moving average 200 MA and 20 MA indicating bearish trend.
The MACD trend indicator is below zero level now, indicating bearish movement.
 
If the support level is broken you can use the following recommendation:
•             Chart timeframe: H4
•             The trade recommendation: Sell
•             The level of entry into short position 82.60
•             The level of profit and close the position: 81.80 (80 pips)
 
 
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Possible bearish movement in the breakdown of the support level 1.4380
 
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Possible bearish movement in the breakdown of the support level 1.1120
 
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