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08.08.2024 05:57 AM
With the position of the RSI indicator (5) which is above level 50, it gives an indication that there is still strengthening momentum on the 4-hour chart of the CAD/JPY cross currency pair where the area level of 107.24-107.80 will be tested in the near future if this area level acts as a strong enough Resistance level so that CAD/JPY does not break above level 109.18 then most likely CAD/JPY will continue to weaken to level 103.13 and if this level is successfully broken down then CAD/JPY will continue to weaken to level 100.62 as its main target and if the momentum and volatility support then 96.56 will be the next target to be aimed for.
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