CAD/JPY Signal - April 25, 2013

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By: DailyForex.com

The CADJPY pair has been evolving for several weeks in a bullish channel marked on the chart. In terms of technical indicators, the RSI evolves above its neutrality area and the MACD remained anchored in positive territory. Investors will therefore be able to use the return on the moving average at 7 sessions to be bullish on the pair. The stop-loss can be positioned below the moving average at 20 sessions to aim for a return on the upper limit of the channel.
Direction: Up
Entry: 97.02
Stop-Loss: 95.30

CADJPY Signal

Maxime Parra has been trading since the age of 18, and he is now in charge of technical and fundamental analysis at BNRY.com and Tmarkets.com. Fascinated by the psychology of financial markets and technical analysis, he is also the head of the “Fédération Sud Finance” and is preparing for the Degree of the Chartered Financial Analyst (CFA) level 1 at the SKEMA Business School. Maxime favors trend following strategies by combining chartist analysis with the use of technical indicators.