CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Chart of the day - CADJPY (01.10.2021)

08:54 1 October 2021

CADJPY is one of the worst performing currency pairs today. Canadian dollar underperforms along with other commodity currencies amid deterioration in moods while Japanese yen gainso n the flight for safety. The pair has tried to break above the 50% retracement of the recent downward move earlier this week but each attempt turned out to be a failed one. The pair took a dive lower today and tested the support zone at 38.2% retracement (87.20 area). The initial attempt of breaking below turned out to be a failed one but one cannot rule out a retest in the later part of the day. Should we see a recovery move launched from this area, the nearest support to watch is the aforementioned 50% retracement area (88.00 area). However, traders should keep in mind that breaks above this zone can be false breakouts as it was with attempts earlier this week (orange circle). It may be better to wait for the pair to break above the 88.35 area before considering going long as this was the area that halted previous false breakouts.

Source: xStation5

Start investing today or test a free demo

Open real account Try demo Download mobile app Download mobile app

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back