CAD/JPY1Hour breakout.
Iv shared my position on this pair.
*yesterday we had crude oil inventories released in the US (www.investing.com).
This had resulted in an immediate drop in the CAD, which has since recovered as Oil prices are already at an all time low and has climbed $2 a barrel since the release of inventories yesterday.
Cadjpylong
RETAIL VS INSTITUATIONSGuess who wins...?
Take a look at the chart. What I see is this pair range bound. We broke the bottom trend line but we are yet to retest it, the green zone is marking where retail traders will look to go long and the purple zone below is where the institutions are likely to long. I see big spikes coming to the low 74 zone wiping out the retail buys.
CADJPY LONG! A Look at Daily Good news First:
1. Pair is trading at multiple Buy-Zones.
--For Long position to fully execute, Cad HAS to be stronger than JPY, preferably on all time-frames (something to eye)
Notably also is price battling a deep trend-line-- Otherwise, We Are Good To Go!
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CADJPY TRENDSHIFT9th of March CADJPY opened with a gap. From my experience gaps mean trend shifts (85% accurate). So you can clearly see, cadjpy was in a downtrendafter the gap higher highs higher lows are starting to appear. Its a bulls market at this point with low power, we have to wait still to see price action and then we can enter. FX:CADJPY
CADJPY LONG! Weak JPY Vs Strong CAD
Bias is Weak JPY Vs Strong CAD.
Major news Cad at 0830EST
Looking to enter Long at 77.094 or better.
Idea is to complement your research.
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Thank you and happy trading.