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Canadian Dollar / Japanese Yen
Short
Updated

Global recession continues

76
CADJPY

Risk-off sentiment continues after consolidation and flag pattern formation.

We have got a breakout from flag pattern, which is strong sell signal together with current fundamental conditions.

USOIL is in strong downtrend due to traffic restrictions imposed by governments to fight coronavirus pandemic.
Global economic recession is following and flight from comdolls to save haven currencies.
Note
The breakout turned out to be a fakeout. Flag pattern turned into rectangle pattern. Stop at 78.311 intact. Waiting for the real breakout or stop.

Fundamentals are staying the same.
edom
Chart PatternsFLAGFlagFundamental Analysis

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Chart PatternsFLAGFlagFundamental Analysis
edom

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.