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Cad-jpy

CADJPY Long Setup & AnalysisAs most of you guys know, I really enjoying analysing the Canadian dollar since the fundamentals behind it are really fascinating. Most of the people think that when something influences the USD or the west as a whole, the CAD should follow it as well. But it doesn’t work this way and history has given as a few examples such as the recession back in the 2000’s and the financial crisis in 2008. That doesn’t mean that the CAD got away unscathed, but due to its good regulations on the banking system there was no collateral damage. And if the corona-crisis deepens I am pretty sure that the Canadian financial system would take less damage than many others. From a COT perspective both CAD and JPY hold strong long contract positions, but a stronger short-term momentum can be seen from the Canadian Dollar. On the technical side from March till the end of May, price ranged between the monthly critical area and the daily critical one near 75.000 and 78.000. Afterwards there was a break above the 78.000 zone and price is consolidating right now. Two possible scenarios can take place: 1. Price receiving strong demand pressure and moving towards the daily critical near 85.000. Then it will do a small correction to the previous critical zone near 82.000 and move once again towards the monthly upper trendline near 90.000. There we have a triple confirmation point: a monthly critical zone, the upper trendline itself and the 0.5 Fibonacci level. 2. Before scenario one occurs, we may see a move once again towards the bottom monthly critical near 75.000. This scenario is less likely to happen. Happy Trading!
Editors' picks
Long
by SigmaTrading
8
Don't miss the great buy opportunity in CADJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (79.87). 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 uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 75. Take Profits: TP1= @ 80.55 TP2= @ 80.95 TP3= @ 81.65 TP4= @ 82.25 TP5= @ 82.75 SL= Break below S2 ❤️ 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 trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
15
Don't miss the great buy opportunity in CADJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (79.87). 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 uptrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 75. Take Profits: TP1= @ 80.55 TP2= @ 80.95 TP3= @ 81.65 TP4= @ 82.25 TP5= @ 82.75 SL= Break below S2 ❤️ 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 trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
10
CADJPY breaking the range 🦐The market after being in a sideway movement for a long time is now breaking to the upside the daily resistance. On the daily chart we can see the false break out attempt to the downside before the market start the move up. At the retest of the structure we can set a nice long order according with our strategy. ––––– Follow the Shrimp 🦐 Here is the Plancton0618 technical analysis, please comment below if you have any question. The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Long
by InkyGrip
8
Don't miss the great buy opportunity in CADJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (78.5). 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 uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 54. Take Profits: TP1= @ 79.30 TP2= @ 80.15 TP3= @ 81.75 TP4= @ 82.90 TP5= @ 84.55 SL= Break below S2 ❤️ 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 trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
18
Don't miss the great buy opportunity in CADJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (78.5). 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 uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 54. Take Profits: TP1= @ 79.30 TP2= @ 80.15 TP3= @ 81.75 TP4= @ 82.90 TP5= @ 84.55 SL= Break below S2 ❤️ 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 trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
23
Don't miss the great buy opportunity in CADJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (78.33). 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 uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 70. Take Profits: TP1= @ 78.63 TP2= @ 78.82 TP3= @ 79.27 TP4= @ 79.60 TP5= @ 80.14 SL= Break below S2 ❤️ 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 trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
18
Don't miss the great buy opportunity in CADJPYTrading suggestion: . There is a possibility of temporary retracement to suggested support line (78.33). 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 uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 70. Take Profits: TP1= @ 78.63 TP2= @ 78.82 TP3= @ 79.27 TP4= @ 79.60 TP5= @ 80.14 SL= Break below S2 ❤️ 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 trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
22