CADJPY AT KEY LEVELIf prices close below 89.30 we expect lower prices, if prices close above 89.50 we expect prices to rise higher
Cadjpybuy
CADJPY has bounced perfectly, further potential upside expectedPrice has bounced up perfectly from our major support at 88.57 previously. Major support is now at 89.37 (Fibonacci retracement, horizontal pullback overlap support) and a potential bounce could occur from here pushing price further up to 90.37 resistance (Fibonacci retracement, Fibonacci extension).
Stochastic (89,5,3) is seeing major support above 1.9% where a potential corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
CADJPY on major support, prepare for a bounce!
CADJPY is now testing major support at 88.50 (61.8% Fibonacci retracement, 61.8% Fiboancci extension, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 90.37 resistance (61.8% Fibonacci retracement). We are seeing intermediate resistance at 89.65 (38.2% Fibonacci retracement) too.
Stochastic (34,5,3) is also seeing major support at 2.2% where multiple bounces occurred previously. A potential corresponding bounce could occur at this level too.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Buy CADJPY Longterm Based on Multiple Timeframe BreakoutThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
CADJPY Bollinger Band Spikes on a nice supportHi traders,
I am in a buy after a double Bollinger Band spike on a fairly strong support level and little down trend. Market structure is also indicating that we could expect a move up, breaking the top (impulse + completion of a corrective flat). If this 4H candle also closes outside of the Bollinger Bands, then we have a clear confirmation.
Make sure to cut your losses fast if there is a lack of momentum.
(This is not a trade recommendation!)
CADJPY, Bollinger Band Spike + Correction finished. Impulse Up!Hi traders,
I just spotted a nice Bollinger Band spike. I am planning to take this trade as soon as the market opens due to the following reasons:
1) We are in a correction and anticipate another impulsive wave up
2) Bollinger Band spike
3) We completed a flat
(This is not a trade recommendation!)
CADJPY Possibly Started Going Up AlreadyHi there,
I see a smaller correction marked with green arrows. The last three daily candles show some strong move up and if this is the C wave, I believe that we could be seeing a completion of the regular flat soon.
Looking at the bigger picture, if we go down from here, I could imagine seeing a further move down to complete the regular flat (marked in blue + orange arrows) and then the next impulsive move up.
We will see how it develops. The more information I get on this chart, the easier it will be to understand what is going on.
MisterRay
CADJPY Edging DownCADJPY on the 4 hour time frame finds itself and a narrowing triangle failing to push up due to lack of good buying volume. If you take a peek at the daily time frame you also see the flat top here. This doesnt mean perse that CADJPY will stop going up but for now the strength is lacking making a retracement very likely so we go sell CADJPY. After this retracement CADJPY might follow its journey as shown in my previous idea
Open: CM
TP: 89.51
SL: 91.60
CADJPY Break OutCADJPY on the daily time frame has a nice break out from its resistance and the trading channel. For possible resistance levels we have to go back in time, back to 2015 to be exact. The resistances that you see are based on CADJPY trading ranges from 2015 and the last time that CADJPY traded between 92 and 102. Giving the recent rate hike and the more than decent economic data the strength of CAD is growing and it will try to reach 100 again.
The only thing that can spoil this CAD bull party is North Korea, as you all know JPY always gains some strength during North Korea events. But thats an uncertain factor and for our analysis we look at the charts and the indicators. Just use a good stop in case of any sudden North Korea action.
CADJPY Sell The TopCADJPY has been hovering around the same resistance area for a week now trading very side ways. Failing to break this resistance for such a long time basically proves that big money feels that CADJPY is already price high and they see the current area at the max. Why it hasn't go down yet? Well maybe the big money doubts the YEN a bit... but it also doubts the CAD against the JPY since the price is stuck for over a week. Most likely CADJPY will fall hard as the slightest bit of JPY news. first targets are 87 and 84 after that. So lots of potential in shorting CADJPY!!
TP: 87 > 84
SL: 89,70
Possible push higherAs seen on the graph represented for you, the 2-hr ascending trend line has still been intact. Whenever it has broken a consolidation, it has allowed to push higher... then back to consolidation before any push higher.
Due to the recent events of the Bank Of Canada wherein it has applied a rate hike after years of keeping the rates intact, the Canadian Dollar has strongly pushed higher on several of its Forex pair despite the slow recovery of the Crude Oil (WTI and Brent).
CADJPYCADJPY for sell if breaks the trendline on daily chart u can sell from current point with Tight SL : 89.050 or wait for Break Trendline so CADJPY For Sell not for buy at the moment
Uptrend Continuation for CADJPYCADJPY has started a new uptrend and I was waiting for the pullback to enter LONG on this trade.
Here are the things that I am looking for to enter this trade setup:
1. Price will retrace around 38.2 to 50.0 Fibonacci levels which both coincide with previous support and resistance areas.
2. Strong green candle has closed with its low touching the 38.2 Fibonacci level and above the 10 SMA (blue line).
3. BB shows strong momentum upwards as price is contained near the upper band and RSI is also showing a move upwards.
Will enter this trade at 83.900 with initial TP of 85.900 to achieve a 1:2 RRR while setting a 100-pip stop loss, just about the size of the strong green candle.
This setup is similar to this:
CADJPY 1H TECHNICAL ANALYSISBuy this pair at current level and book profit at 82.46.
get out at 81.20
CadJpy Range Break Hybrid SetupDrawing channels and resistance levels on CadJpy shows a very interesting setup.
CadJpy has been trading inside this channel since february and so far every wave that tried to break the upper range was followed by a strong bearish wave that kept the decending channel intact.
Stoch Rsi shows that theres enough fire power left for a possible upwards break. However when looking back we see that at this area the Stoch Rsi all of sudden made a bearish cross-over numerous times. The Adx indicator also still shows that a bearish trend is a bit stronger then Bullish
How To Trade
Wait patiently till either a break of the upper channel or the small lower channel.
A break of the small lower channel will lead to a wave down towards that big lower channel.
This sell can have a take profit set at around 79.55
A break of the upper channel which has been failed to break since february will be the start of a strong bullish wave, possible take profits are 84,78 and 87.36 long term.
Stop-loss: When buy set a stop-loss 20 pips below the small lower channel. When sellling set a stop-loss 20 pips above the upper channel.
