Blake Morrow’s Chart of The Day – July 20th 2021
CADJPY
The CADJPY was our chart of the day back on July 1st a couple weeks back and we warned of a move lower if crude and/or SPX fell. With both falling, the CADJPY also came under pressure as expected and now is approaching some key support. There is horizontal support at the 85.46 level, but the 200dma and the Feb 2020 highs near 84.65 could provide additional support if the CADJPY takes out some sell stops. Daily RSI has also reached oversold so a bounce from those support levels noted could be around the corner.
Blake Morrow
