Technical Analysis – CADJPY builds base below 20-SMA; lacks direction

CADJPY has been underperforming in the past few days, breaking back below the 20-period simple moving average (SMA). On the daily chart, prices rebounded off the 74.80 support level on May 7 but based on the RSI, momentum is too weak to provide a sustained move higher. However, the stochastic oscillator is creating a bullish […]