Week 2 on the CADJPY

Good Morning Dynamic Traders

Hope you all had a great weekend, and are ready for another week of money making!

We left the CADJPY on Friday wondering if price was going to be able to beat the support line! If you look at the day char below you will see price has managed to just about drop below the support line, however if you look closer you will see that price has tagged the S/R line. This means that price is still caught in the S/R area.
Our studies are also showing signs of price falling apart from the convergence from the MACD, but the signal lines from the MACD are indicating to us a further drop.













We still have good arguments for price to fall and to climb! This week could prove to be very interesting indeed!

Happy Trading

Richard Monnery