CAD/JPY Bearish Setup Near Resistance – Rejection Incoming?
📉 Trend Analysis:
The pair is in a downtrend, confirmed by the descending trendline.
Lower highs and lower lows indicate bearish momentum.
📌 Key Levels:
Resistance Zone (104.5 - 106.0): Marked in purple, this area has previously acted as support and is now a key resistance zone.
Support Area: Around 100.0 - 101.0, a psychological level where price may find demand.
📊 Trade Scenario:
Bearish Rejection Expected: Price is approaching the resistance zone and trendline confluence. If rejection occurs, a downward move towards 100.0 is likely.
Break Above? If price breaks above the resistance zone and trendline, bullish momentum could invalidate the bearish setup.
🔍 Conclusion:
Watching for rejection near 105.0-106.0 to confirm a short opportunity.
If rejection happens, next targets are 102.0 → 100.0.
A bullish breakout above 106.0 could shift momentum upwards.
The pair is in a downtrend, confirmed by the descending trendline.
Lower highs and lower lows indicate bearish momentum.
📌 Key Levels:
Resistance Zone (104.5 - 106.0): Marked in purple, this area has previously acted as support and is now a key resistance zone.
Support Area: Around 100.0 - 101.0, a psychological level where price may find demand.
📊 Trade Scenario:
Bearish Rejection Expected: Price is approaching the resistance zone and trendline confluence. If rejection occurs, a downward move towards 100.0 is likely.
Break Above? If price breaks above the resistance zone and trendline, bullish momentum could invalidate the bearish setup.
🔍 Conclusion:
Watching for rejection near 105.0-106.0 to confirm a short opportunity.
If rejection happens, next targets are 102.0 → 100.0.
A bullish breakout above 106.0 could shift momentum upwards.
Trade active
📊 CAD/JPY Update: Price dipped to 103.400 before bouncing back to 104.603. This rejection suggests buyers are stepping in, but the key resistance zone remains intact.
⚠️ What's Next? If price fails to break above the trendline and resistance area, we could see another bearish move. A clean break above 105.0-106.0 would invalidate the bearish setup.
Watching closely! 👀📉
Trade closed: target reached
✅ CAD/JPY Hit 101.83 – Over Half the Move Completed!
Smart and sharp traders already locked in profits 💰. The market respected the analysis beautifully, and those who stayed alert and acted on the opportunity got rewarded.
📌 This is a reminder: Opportunities favor the active. Traders who stay ready and adapt quickly are the ones who consistently win.
Well played if you caught this move! 🧠⚡
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JOIN MY TELEGRAM CHANNEL
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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uvd1etcgg1
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JOIN MY RECOMMENTED BROKER REFFREL LINK
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PARTNER CODE⤵️
uvd1etcgg1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.