Sunday, September 5, 2010

According to currency analyst RBC Capital Markets

According to currency analyst RBC Capital Markets, a key in a pair of Canada / yen is the level of Y82.17. As noted in the bank, daily close above this mark will be the basis for the bullish trend reversal and the beginning of correction. As the initial goals in this case made by the trend line at Y83.84 and Y85.55. Another rising to a 38.2% Fibonacci retracement, after declining in April and August at Y84.60, 50% and 61.8% correction of this reduction are, respectively, at elevations Y86.48 and Y88.37. Recessions Canada / yen to levels Y79.70 and Y78.49, believe the bank should be used for opening long positions. Stop in this case should stand below the double bottom Y78.49. At the moment couple Canada / yen is at around Y81.08.

Translate this page

Search This Blog