Mon 28th November 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • CADJPY
  • GBPAUD
  • GBPUSD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

CADJPY- Short Opportunities On JPY Strength

In today’s currency strength video we will be looking at multiple currency pairs highlighted from the currency strength indicator tables.

In particular the JPY as it tops both the trend traders and day traders table as S1. The CAD is W1 on the day traders table offering opportunities.

The price of CADJPY was last featured on the 18th November when the price was trading above the 104.50 handle. 

Our analysis then was to expect a break out to the downside and since then the price has traded through the lows and moved over 200 pips lower.

Now price is approaching key support we look at the options for both trend and day traders for opportunities in line with the tables.

Technical Observations

  • The CAD is W1 on the the day traders tables and the JPY is S1 on both traders tables.
  • Price has traded through the support of 104.50 as expected. 
  • The next support zones sit below current price at 102.00 and 100.00 levels. 
  • Trend traders will want to wait for the price to move higher and form a lower high around the recent lows of 103.50.
  • Day traders could look for short term breakout opportunities.

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