CADJPY > Rising Channel for A Sell Setup!!

Analysis on #CAD/JPY# #Todayanalysis##OPINIONLEADER#

Hello friends.

Let us look at the technical analysis of CADJPY , looking at the RSI , I see that it has been making lower highs while the market kept on making new highs, bearish divergence.

So the market also formed a rising channel and for me, it is a sign the market is running out of steam if it is combined with RSI divergence, again bearish signal.

With the CAD BOC Rate Statement coming today along with OIL inventory also today we can expect the CAD to be a mover today.

if the market break and closes below 0.9000 that will confirm my analysis and give me a reason to start looking for a sell trade

Caution: the cad is strong across the market and I have no reason to sell right now

Enjoy your tradings today and have good luck!