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Cadjpyforecast

CAD/JPY - continued bearish movement to 78.00?CAD/JPY has experienced a sustained bearish movement for the past couple of weeks, breaking to the downside from a consistent daily ascending trend channel. This event, coupled with the overall weekly bearish trend, means our bias is towards entering short positions. Price kissed the upper boundary of the weekly descending trend channel at the start of September, since then bears have flooded the market and currently there seems to be no hold up. On the 4H timeframe, price has been taking a breath, but we believe bearish momentum will be enough to force price down to retest at least the support at 78.00. There is also currently a 4H descending trend line that price is respecting, making for potentially a good entry. After 78.00, a secondary target would be the level of support at 77.13. If price closes back above the daily ascending trend channel this analysis will be invalid.
Short
by TheForexFellows
6
CADJPY | MY PERSPECTIVE FOR THE WEEKThe CAD continues to struggle through the first half of the month as the Yen looks to re-emphasize its dominance in the coming week(s). As I look forward to the Breakdown of Daily trendline, a correction/retest of this line might be a simple signal for me. Tendency: Downtrend ( Bearish ) Structure: Trendline | Breakdown | Reversal Pattern (Head and Shoulder) Observation: i. Bullish run that started in August 2020 culminated at Y81.600 followed by Lower Highs and Lows. ii. Breakdown of Neckline @ Y80.00 followed by a rejection of this zone is enough reason for me to support the Bearish bias on this one. iii. My Key level at Y79.300 appears to have been broken; it is also worthy to note here this level also coincides with the Trendline on Daily chart. Trading plan: SELL confirmation with a minimum potential profit of 250 pips. Risk/Reward: 1:3.5 Potential Duration: 5 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
2
CADJPY H4 Analysis Based On Price Action Theory Dear Traders Today We Have Analysis Of CADJPY H4. This Analysis Based On Price Action Theory. According The Analysis We Can See That Market On The Support Level & Price Decline(Rejection) From Support . So Behalf On That. This is Right Time To Open Buy Trade Around @80.35 With Control Volume Hold your Trade be patience achieve the Given Target🎯 I Request to All Before The Trade You Also Match You Analysis With As If Your Set up Match Then You Can Trade. #CADJPY Buy@80.35 #Tp@81.35 #Sl @79.65 Notes- Please Take Only 2% Risk On Every Given Analysis That Means You Can Safe In Market Every Time All The Best 🙏🏻
by Enclave_fx
2
CADJPY is approaching towards august lowCADJPY At 81.500 level this pair got some major rejected fourth time and felled towards 80.000 psychological level. The medium term trend line was broken on September 08 and the price was Retested and currently its trading below 23.6% Fibonacci and 81.00 level. Bearish engulfing candle is formed at H4 timeframe. Next downside resistance would be 80.000 and 40% Fibonacci level. We can short this pair at this level and the target would be around 78.550 which Is a low volume and profit taking area. Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas Disclaimer It’s not a financial advice. Do the analyze and take a decision .
Short
by forexorbit
CADJPY SHORT PRICE ACTION FORECAST The price action has respected the descending trendline and form a bearish pin bar to confirm a downward pressure in the pair. The price structure allows the setup for a short entry with the following characteristics. The order: Type: sell-stop S/L: 38 pips - R:R | 1:3 - T/P: support zone towards the ascending trendline -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER