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by Ashraf Laidi
Posted: Jun 15, 2009 12:47
Comments: 98
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This thread was started in response to the Hot-Chart:

CADJPY's Next Target

 
 
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Gunjack
London, UK
Posted Anonymously
15 years ago
Jun 17, 2009 9:12
Hey guys new to this website so forgive my ignorance I got into CADJPY at 85.3....Is it too late to short according to the above?
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jun 16, 2009 9:41
jroc, 23.6% retracement of the move from Jan low.

Ashraf
jroc
Vancouver, Canada
Posts: 1
15 years ago
Jun 16, 2009 6:20
Hi Ashraf,
Is it proprietary information or can you tell me where you got 85.20 from? If it's a fib support where did you draw it from, I can't see it on my charts.
Thanks,
James
Rob
New York, United States
Posts: 305
15 years ago
Jun 16, 2009 3:13
Spot on with the 85.20 support!
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jun 15, 2009 22:17
Rob, careful with CAD. it's always reluctant to drop lower so you need patience..as long as oil cannot stay down. Your reasoning is fine but just be careful with CAD. AUDJPY also still seems a good sell.

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Jun 15, 2009 20:00
Ashraf,

Yeah, I know, almost did miss it - got in pretty late - 86.32

About that boat - when do you think it will return to shore? Do you feel we should take profits at the targets mentioned above? Is the market still that volatile - my opinion would be to leave it for a few days at least - I can't see the next few sessions resulting in any massive gains for equities which will obviously keep this pair down. Do you see anymore "astroturf" (great term by the way) showing up with equity traders and economists calling it "green shoots?" Maybe US and CAD CPI and PPI figures in a few days? Thanks a bunch.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jun 15, 2009 19:50
Rob, dont miss the boat

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Jun 15, 2009 17:48
Hey Ashraf,

Great chart, and I like the reasoning behind selling CAD as opposed to GBP or EUR against Yen. Just saw an article on Bloomberg about CA central bank governor buying bonds or getting into QE. That should crush this pair. Thanks for your help.
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