- Posted December 10, 2013 by
Important Reversal in Forex
One of the least noticed Forex pairs is CADJPY. This is the value of the Japanese yen to the Canadians along with the value of the Canadian Dollar to the Japanese.
Recently, as reported here, within minutes of it occurring, the price of oil reversed is now in an up trend.
Since Canada sells a lot of oil to Japan. This impacts the relationship of the Canadian Dollar to the Japanese Yen.
Here noted on the chart, at a point that is forecast to be a reversal point for this currency pair using the Andrews Babson Ore indicator.
It is suggested that the reader examine the data at a future point in time to see how accurate this indicator was in this situation.