CADJPY: Weakness ahead, eyes on 99.50 regions
Daily studies of CADJPY show that, the pair has been topped out in the 101.00 zones where it declined, influenced by facing the median line of pitchfork channel.
Aroon-trend indicator- started to reflect some kind of weakness in the uptrend, while the probability of tracing a negative divergence increased.
A break below 99.50 regions should be witnessed to affirm the negativity and a break below these areas will bring panic sell-off actions.
On the upside, coming above 100.60-100.70 zones will weaken chances for reversals.