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Cadjpyanalysis

CADJPY, Long at 103.00 (275PIP Target)Hello Traders, Investors turned to safe haven currencies recently as JPY strengthened across the board. Looking at the HTF on CADJPY, we can see that price made a massive push down touching the previous low of 101.6 range creating a double bottom with a reversal impulse. Looking at the LTF, we could see price is currently developing a bullish continuation structure seting up the next impulse which we will see some short term consolidation early next week before seeing another push upwards. Trade Safe, Thanks
Long
by ktlfx
With Yen gaining strength I expect CADJPY to fall!We have seen Yen gaining strength the past few days and noticed the change of trends in most of the Yen pairs. CADJPY printed a high time-frame bearish reversal pattern which confirms that the pair is really changing direction to the downside. The previous day, the pair bounced up from its June 2022 low at 101.67 which I believe it is to retest the 103.41 key level. I will keep an eye at this key level for signs of bearish pressure which will confirm the present of bears around that level. I will look for short positions with two targets in mind, 101.70 and 98.59. If you find this idea helpful please support it with likes. I will highly appreciate it. If you have any suggestion or opinion, be kind to share in the comment section below. Trade smart:)
Short
by Forexintelligence_NA
2
CADJPY : Current Situation & Technical , Fundamental View#CADJPY Due to MARKET RISK ON, CADJPY went up a bit. But now CAD UP is being done again. We expect CADJPY to go UP again. Either way, that price can retrace to the CADJPY MAIN TRENDLINE. After that the MARKET can go UPSIDE. The reason for that may be due to OIL PRICES UP. JPY WEAKNESS will also affect this. You can definitely buy at the CADJPY 108.691 level. For that, MARKET RISK should be ON SHORT TERM. But according to the STRUCTURE, CADJPY can move up to 103.340 LEVEL on the TREND LINE. The reason for that is the idea that the MARKET SENTIMENT in the OVERALL MARKET will be RISK ON in the coming days. We must pay attention to the MARKET SENTIMENT.
by benny_marshall