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Cadjpylong

Cadjpy risky longsCadjpy has been in a long term uptrend, so we should be preparing for a distribution. Nevertheless, this lends credence to a trend following approach being optimal. A pullback to the previous high of the pair should signify a highly probable formation of a Higher Low to shoot for a continuation long. Incidentally the pullback zone is also the 61.8%/50% fib level of the upmove. The bullish break and retest of the LTF descending trend line and the LTF minor resistance should most probably start a bullish climb to equal highs at least. Pls like and drop quick sub and COMMENT!.
Long
by LexyenHille
CAD/JPY Bullish HypothesisWhat's up traders, I have been really enjoying trading CAD/JPY recently and to keep myself more accountable I deciding to start posting more often and also to open my eyes to any helpful criticism from my fellow trading homies. I am a bit of a swing trader but I scalp during New York session because indices are frickin awesome. Here is CAD/JPY with a resistance I expect it to break within today's trading day so I am risking less with a looser stop to keep my trade comfortable. Based on it's movement on the 4hr I believe this trade is extremely plausible to occur. Trade safe!
Long
by ChimpanzeeYakuza
CADJPYThe Canadian dollar bounced on Wednesday at the ¥99 level, an area that should capture a lot of attention because it has historically been very important. Furthermore, we had initially seen a major push lower when we pierced that level for the first time, so now that we have pulled back to retest this area, a bit of buying pressure would make quite a bit of sense. At this point, it could come down to the oil market perhaps driving the Canadian dollar higher, or it may just simply be all about the Japanese yen. After all, the Bank of Japan continues to do everything it can to drive down yields, and this means that they are essentially “printing yen.” That works against the value of the currency, and this has been reflected in the markets over the last several weeks. That being said, we had gotten overdone, and this massive pullback has made a certain amount of sense. That pullback allows for people to pick up the trade at lower levels, which is certainly something that looks like we are going to do. Unless the Bank of Japan suddenly changes its attitude, it is difficult to imagine a scenario where we would see the Japanese yen recover for a longer-term move. Even if we break down below the ¥99 level, I see a lot of support all the way down to at least ¥97, so therefore it is probably only a matter of time before the market bounces. The market is obviously in a bullish move and as a result, I have no interest in trying to short this market until we break down below the 50-day EMA at the very least. If crude oil starts to rally, then that will more likely than not supercharge this pair, because Canada being a major exporter of oil and Japan importing all of its oil sets up almost perfectly. Because of this, this is a market that I will be paying close attention to, as it looks like oil is trying to support itself again. A move to the highs would make sense, which is near the ¥103 level. Shorting is impossible at this point, but if we do see another breakdown in the yen-related pairs, this might be one worth exploring.
Long
by SmoothJB