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CADJPY Andrew's Pitchfork Lines - H4

Pair of CADJPY watches uptrend using support line drawing drawn 7 days ago. This line of support for four attacks in the past few days has been able to withstand potential defeat. These important support and resistance lines can also be found in the indicator MACD . According to the time analysis we have drawn with Andrew's Pitchfork Lines, we determine the location of the fork collision and the time and support line collision at the price target, which is at price 83.07 .

The main support and resistance lines of the Pair CADJPY in the 4 hour working time are as follows:

S1 : 83.84

S2 : 83.75

S3 : 83.70

&

R1 : 83.96

R2 : 83.95

R3 : 84.01

The following indicators also indicate the downward trend:

STOCH(9,6)

STOCHRSI(14)

Williams %R

Ultimate Oscillator

Bull/Bear Power(13)

The 10-day moving average also indicates a downtrend.

Next week's economic calendar has the most important economic news:

January 13 : Release of Trading Statistics in Japan

January 15 : Speech by the Chairman of the Bank of Japan

January 16 : Japan annually releases demand for new industrial machinery

January 17 : Foreign exchange investment statistics in Japanese stocks

The global energy industry, especially oil and gold, has experienced sharp fluctuations due to developments in the world last week, especially developments in the Middle East, and tensions between Iran and the US. Fear of Iranian missile strikes on refineries operating in Arab countries boosts global oil prices by 5 percent. But after Trump's speech and his retreat from past threats against Iran and demands for cooperation with Iran, prices have returned to normal.



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