continues to fall inside the Flag chart pattern identified by Autochartist on the daily charts, as you can see from the following trade opportunity alert that I received today for this currency pair. The pair is expected to fall further toward the target level 96.27 in the following 7 trading days. The stop-level for this bearish forecast is set by Autochartist at 100.975 (point B, which is the top of this Flag). This level formed when the pair reversed down from the resistance level 101.00. The pair is set to fall further toward the target level 96.27, which is also indicated by the Volatility Analysis shown below.
As you can see from the following Volatility Analysis chart for CAD/JPY
, all of the daily Expected Price Range (EPR) calculated by Autochartist for this pair (from 100.2143 to 98.3627) stands below the aforementioned resistance level 101.00, while the lower boundary of the EPR (98.3627) is located below the projected value of the lower support trendline of this Flag – which suggests that it might soon be broken, which should accelerate the downward movement toward the target level 96.27 in the next 7 trading days.
Disclaimer: THE RISK OF LOSS WHEN INVESTING IN SPOT FOREIGN EXCHANGE MARKET CAN BE SUBSTANTIAL: YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH INVESTMENT IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THIS KIND OF INVESTMENT INVOLVES SUBSTANTIAL RISK AND IS NOT FOR ALL INVESTORS. INVESTMENT IN THE CURRENCY EXCHANGE IS HIGHLY SPECULATIVE AND SHOULD ONLY BE DONE WITH RISK CAPITAL. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN FOREIGN EXCHANGE TRADING CAN WORK AGAINST YOU AS WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS. THIS BRIEF STATEMENT CANNOT DISCLOSE ALL OF THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE FOREIGN EXCHANGE MARKETS. THEREFORE, YOU SHOULD CAREFULLY REVIEW THE DISCLOSURES CONTAINED IN BOTH THE MARKET MAKER'S TRADING AGREEMENT AND THE INTRODUCING BROKER'S LIMITED POWER OF ATTORNEY (LPOA) TO DETERMINE WHETHER SUCH INVESTMENT IS APPROPRIATE FOR YOU IN LIGHT OF YOUR PARTICULAR FINANCIAL CONDITION.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.