CADJPY Daily Outlook 09-09-20 - On Tuesday Oil prices fell sharply on demand fears as the U.S. summer driving season ends. The EU former chief said a no-deal Brexit is the most likely outcome of trade talks Japan’s Q2 GDP revised down to an annualized 28.1% contraction and A measure of Australian business conditions fell sharply in August.
Welcome to the Tickmill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.
On Wednesday, all eyes will be on Bank of Canada’s interest rate decision. Today I’m looking at the CAD/JPY pair which appears to have topped out at 81.72 and in the process of forming a double top bearish reversal chart pattern. The pair remains above the daily Ichimoku cloud with the future cloud appear bullish, so we’re still in a wait-and-see mode. We wouldn’t be fully bearish unless the pair confirms a break below the 79 pivot level.
Do you think this is a temporary pullback for the CAD/JPY? Head over to the comments section and let me know.
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