CADJPY is inside a bullish channel and continues making higher highs and higher lows. Trend is bullish but we have some warning signs that imply an imminent reversal and exit off the bullish channel. Traders need to be cautious as a sell signal could come soon.


Blue lines – bullish channel

Red lines- bearish RSI divergence

CADJPY is still inside the bullish channel. However if price breaks below 86.70 we will have a short-term sell signal. The RSI is not following price to new highs. This bearish divergence is a warning that a trend reversal could come soon. Pull back target if price breaks out and below the bullish channel is at 84.20. CADJPY is vulnerable to a pull back towards that level. Tomorrow we might get the bearish signal we expect.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.