Supreme Confluence - CAD/JPY
CAD/JPY has been in a dominant bearish trend since December 2014 as the breakdown in the Canadian Dollar, largely influenced by the crash of oil prices, has crippled the currency.
January 2015 resulted in an absolutely massive bearish engulfing bar on CAD/JPY, February offered us a nice bullish pullback, and now we have the continuation pattern in play. We have supreme confluence on the weekly chart to short this pair starting next Monday -3/9/2015.
USD Non-Farm Payrolls came out better than expected and CAD Trade Balance & Building Permits both printed terrible data. This was the catalyst for USD/CAD to break out of it's 1 month descending triangle and now we will witness the next round of punishment to the Canadian economy.
January 2015 resulted in an absolutely massive bearish engulfing bar on CAD/JPY, February offered us a nice bullish pullback, and now we have the continuation pattern in play. We have supreme confluence on the weekly chart to short this pair starting next Monday -3/9/2015.
USD Non-Farm Payrolls came out better than expected and CAD Trade Balance & Building Permits both printed terrible data. This was the catalyst for USD/CAD to break out of it's 1 month descending triangle and now we will witness the next round of punishment to the Canadian economy.
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