Commodities Forex

Squawk: USDCAD bull trend neutralised; USDJPY indecisive A more aggressive selloff…

Squawk / 17 January 2019 at 8:05 GMT

USDCAD bull trend neutralised; USDJPY indecisive

A more aggressive selloff for the USDCAD Forex rate into mid-January, as we had flagged, was assisted by a rebound in the Oil price (benefiting the Canadian Dollar) and has pushed through some notable USDCAD support levels (see below).
This has shifted the intermediate-term outlook for USDCAD from bullish to neutral, with asymmetrical risks towards an intermediate-term shift to bearish.
As expected, the USDJPY currency pair continued the rebound since the “flash crash” that started the year, to push above the 108.90 level, which neutralised the intermediate-term bearish outlook, to set a broader range theme into the second half of January.

See the full article and video analysis here: https://www.forextraders.com/forex-charts/technical-analysis/usdcad-bull-trend-neutralised-usdjpy-indecisive/

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