Get started

Cad-jpy

COT CURRENCY REPORTAUD, NZD & CAD: It’s important to keep in mind that since the RBNZ meeting took place on Tuesday, we won’t see a lot of the upside in the currency we had this past week reflected in the CFTC data as yet. After the hawkish tilt by the bank as well as the solid beat in Q2 CPI data, expectations for hikes this year have risen substantially, and barring any major risk off tones we would expect a favourable environment for the NZD going into the August meeting. For the CAD, the fact that we it was one of the biggest position unwinds makes a lot of sense, as it shared a similar fate with the other two biggest net long currencies among the majors (EUR and GBP). The bias for the CAD remains tilted to the upside, but with a lot of the positives already reflected in the price, it will take a lot more positive news to see more meaningful upside in the currency. For the AUD, the virus situation is a negative driver to keep on the radar. Two of the largest cities in the country is already in snap-lockdowns, and further aggravation of the situation could develop into a key sentiment driver in the short-term, so definitely one to watch. JPY, CHF & USD: The JPY saw quite a sizeable lift in terms of positioning, with another big batch of short positions being dumped. The hefty increases in short-term positioning over the past few weeks was arguably driven by the fundamental outlook, partly driven by summer liquidity ramping up carry trade activity. Thus, the currency is always going to be vulnerable to see some of that unwind, especially when we have bouts of risk off flows as we’ve seen occur over the past two weeks. For the US Dollar, as the fundamental bias remains neutral and as we are well within the summer liquidity period, the main driver for the USD has been the incoming economic events as expected. This past week we had Fed Chair Powell’s testimony where his persistent dovish tone, despite rising inflation data, saw some minor downside in the greenback, but retail sales also saw some additional excitement. This week will be a very quiet one for the Dollar in terms of events, so be on the lookout for Fed speak, and also keep track of the overall risk sentiment. GBP: Doves turning into hawks. This past week saw some very interesting comments coming out from the more dovish leaning members of the BoE, with BoE’s Saunders paving the way expectations that the bank could announce an early end to their QE program at their next meeting. This saw decent upside in Sterling, as it confirmed the market’s ongoing expectations that the BoE will be reducing accommodative policy in the weeks ahead, but also due to the fact that these hawkish comments came from a dovish member of the bank. This week we look to comments from BoE’s Haskel who is considered as the most dovish member of the bank. If he paints a similar picture to that of Saunders, the markets will arguably be quick to price in a tapering announcement for the upcoming meeting. Keep in mind the upside in Sterling occurred at the latter part of the week which means the CFTC data does not reflect it. The big reduction in net-longs is in line with more unwind in the biggest net-long positions versus the US Dollar. EUR: Despite the big reductions we’ve seen in EUR net-long positioning, the currency remains the biggest net-long position versus the greenback among the majors. With the Dollar’s fundamental outlook turning more neutral, the outlook for the EUR remains tilted to the downside. Majority of the upside in the EUR from expectations about a EU economic recovery going in Q3 was already reflected in the price before the recent FOMC meeting, which left the EUR exposed to lots of downside from a positioning point of view. Even though the bias for the EUR remains weak bearish, the amount of one-sided price action post the June FOMC meeting has seen the currency lose a lot of ground, which means we do want to be mindful of some reprieve from some possible mean reversion. This week we have the July policy meeting which was made more important by comments from ECB President Lagarde who stated that markets can expect updated forward guidance at the meeting in line with their new strategic framework, even though Friday sources pieces suggest otherwise. *This report reflects the COT data updated until 13 July 2021.
by thunderpips
2
CADJPY Facing bearish pressure | 16 July 2021CADJPY facing bearish pressure below graphical overlap resistance and 38.20% Fibonacci retracement at 87.543. With technical indicators showing room for further bearish momentum, a drop towards our take profit and Fibonacci confluence zone at 86.669 could be possible. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
2
Today's Notable Sentiment ShiftsAntipodeans/Safe-Havens – AUD and NZD remained pressured throughout Thursday, while safe-havens CHF and JPY remained broadly well supported as a bout of global risk aversion hit equities and lowered bond yields. Commenting on the risk-off tone, Forexxtra noted that “the risk-off theme is clear across all markets, especially in currencies with the strongest risk DNAs including the Aussie, Canadian dollar and the Kiwi. This feels very much as though this is a washout of positions which could have some real potential in a market which has already felt very thin this week.” Forexxtra’s views were confirmed by Reuters, who noted there was a broad-based unwinding of risky positions by some hedge funds.
by thunderpips
2
💡Don't miss the great sell opportunity in CADJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (89.68). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . CADJPY is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 29. Take Profits: TP1= @ 89.44 TP2= @ 89.24 TP3= @ 89.04 TP4= @ 88.89 TP5= @ 88.70 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
6
💡Don't miss the great sell opportunity in CADJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (89.68). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . CADJPY is in a range bound, and the beginning of a downtrend is expected. . The price is below the 21-Day WEMA, which acts as a dynamic resistance. . The RSI is at 29. Take Profits: TP1= @ 89.44 TP2= @ 89.24 TP3= @ 89.04 TP4= @ 88.89 TP5= @ 88.70 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
12
CADJPY approaching resistance, potential for reversal | 23 JuneCADJPY approaching 78.6% Fibonacci retracement level which also finds confluence with graphical overlap resistance. An intraday drop below our entry at 90.094 towards our target at 89.303 and 38.2% Fibonacci retracement could be possible. Stochastic is testing resistance where price pulled back lower in the past as well. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
3
CADJPY, Short Opportunity 1:7 with opportunities to add on.Good morning ladies & gents, Great day to be engaging in CJ today. We have high impact CAD news @ 1:30pm and 11:30pm BST. This means what? It means that CAD will be an extremely volatile pair today and also the most highly manipulated one also. I'm interesting in taking this long, the first TP is where all retail sell's stop losses are placed. After breaking out of the channel & retesting it, they're all short from the retest with a stop above or at breakeven. This is a high volume area that makes an easy spot for TP IF CJ moves higher. 2nd TP is the High of the D1 Trading Range. Final TP is the Monthly Equal Highs, again - an area where a ton of retailers will have buy stops, so it makes it an easy place for me to get out of my buys @ the bottom as I've got retail orders to pair with at the top. Let's see how the day pans out. Trade small & always manage risk. I've got alternative scenarios that I know can play out if price breaks the H4 Lows & hits my stop loss. I'm prepared to switch my bias on CJ and look for shorts with predetermined objectives in mind. Hence, you should trade with respect to the markets & be flexible w/ your expectations. Good luck. - AmplaFX
Long
by Jiraiya_eth
CADJPY approaching descending trendline, potential for reversal!Price is holding below both the descending trendline and moving average resistances, showing signs of bearish pressure in line with our analysis. We could see a reversal at 1st resistance, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance, and further drop towards 1st support, in line with 100% Fibonacci extension and horizontal swing low support. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by TradeGATEHub
💡Don't miss the great sell opportunity in CADJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (90.90). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . CADJPY is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 43. Take Profits: TP1= @ 90.45 TP2= @ 90.25 TP3= @ 90.10 TP4= @ 89.90 TP5= @ 89.70 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
8
💡Don't miss the great sell opportunity in CADJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (90.90). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . CADJPY is in a range bound, and the beginning of a downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 43. Take Profits: TP1= @ 90.45 TP2= @ 90.25 TP3= @ 90.10 TP4= @ 89.90 TP5= @ 89.70 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity
7
CADJPY facing bearish pressure | 7th June 2021Price is facing bearish pressure from 61.8% Fibonacci extension and 78.6% Fibonacci retracement Fibonacci confluence area. Prices might push down towards horizontal pullback support in line with 127.2% Fibonacci retracement and 61.8% Fibonacci extension . If prices push up, prices might face resistance from horizontal swing high resistance in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement . EMA is also above prices, showing a bearish pressure for prices. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by FXCM
1
CADJPY facing bearish pressure, potential for further downside!Prices are facing bearish pressure from 127.2% Fibonacci retracement and -27.2% Fibonacci retracement . Prices might push down towards horizontal swing low support in line with 100% Fibonacci extension and 50% Fibonacci retracement . If prices push up, prices might face resistance from 161.8% Fibonacci retracement and -61.8% Fibonacci retracement . Stochastics is approaching resistance from 94.42 level, potential for push down. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.
Short
by FXCM