Trade of the Day: CAD/JPY

By: Dima Chernovolov CAD/JPY continues to fall inside the clear hourly Up Channel chart pattern which was previously identified by Autochartist. 

Monday 20th May: Weekly technical outlook and review.

EUR/USD: Weekly gain/loss: -0.67% Weekly close: 1.1156 Weekly perspective: Despite trading within the parapets of a long-standing demand zone at 1.1119-1.1295, last week’s flow witnessed strong selling in the shape of a bearish engulfing formation.