CAD/JPY interim bulls manage to jump above DMAs and break out resistance at 78.639, on verge of breach above stiff resistance with hammer:
On daily terms, the current prices jump above DMAs, 7DMA is on the verge of crossing over 21DMA which is bullish signal
Bulls have broken the resistance of 78.639, for now, you could watch out for more rallies towards next resistance at 79.816.
RSI on daily terms: Upward convergence to the price upswings signals the strength in bullish interests.
Stochastic on daily terms: Stochastic curves approach 80s but no clear signs of %D crossover that still indicates momentum is bulls favor.
MACD: bullish crossover indicates the prevailing upswings likely to drag further.
On broader perspectives, it is most likely to form hammer in this weeks candle, hence bulls likely to uptrend to prolong.
RSI on monthly terms: You could probably make out the divergence to the major downtrend that would imply that there could be some upside potential in short run, but this should not be deemed as the reversal trend.
Stochastic: To substantiate the bullish stance, %K crossover indicates intensified bullish momentum.
Overall, short term longs are encouraged, while long-term bulls for fresh longs are yet to for the better clarity.
On daily terms, the current prices jump above DMAs, 7DMA is on the verge of crossing over 21DMA which is bullish signal
Bulls have broken the resistance of 78.639, for now, you could watch out for more rallies towards next resistance at 79.816.
RSI on daily terms: Upward convergence to the price upswings signals the strength in bullish interests.
Stochastic on daily terms: Stochastic curves approach 80s but no clear signs of %D crossover that still indicates momentum is bulls favor.
MACD: bullish crossover indicates the prevailing upswings likely to drag further.
On broader perspectives, it is most likely to form hammer in this weeks candle, hence bulls likely to uptrend to prolong.
RSI on monthly terms: You could probably make out the divergence to the major downtrend that would imply that there could be some upside potential in short run, but this should not be deemed as the reversal trend.
Stochastic: To substantiate the bullish stance, %K crossover indicates intensified bullish momentum.
Overall, short term longs are encouraged, while long-term bulls for fresh longs are yet to for the better clarity.
