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Cadjpytrade

Sell CADJPY [4 May 2022]Monthly: Bearish . Even though price has not entered my ideal sell zone between 109.00 and 113.00, there is a divergence on the monthly TF. So, there is a chance that market will start to drop before reaching my ideal sell zone. The current price is also at a sell zone which has been tested previously. But because it has been tested previously, the chances of price breaking through this zone is there. As such, there will be a few levels that I will be selling. Weekly: Bearish . Same reasoning as the above. Daily: Bearish divergence. There is an increase in the buying volume on 28/April/2022, the body of the candle is a strong bullish candle, however, the subsequent candle on 29th was a bearish candle, indicating there is not enough demand to push the price higher. H1: Market made a Break of Structure (BOS) which acts a confirmation for market to drop further. Waiting for price to re-enter the POI zone before we can place a trade. Considering that my bias is a strong bearish , the following price points would be the areas that I would be interested to sell and stack my positions. Entry 1: 102.05 Entry 2: 109.20 SL: 102.40 (I don't use SL because I will stack my positions until it goes to my direction). TP: 97.95
Short
by Syahmul
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
CADJPY: Weak Momentum, Short Term TradeHello, everybody, and welcome to my TradingView’s profile, my name is Gianni and today I’m going to analyse the asset , translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities. My ideas are for those who are interested in improving their financial education and for those who are looking for new trading opportunities, according with their own strategies. Daily timeframe: 4 hours timeframe: 

Long term bullish perspective, the market is currently in corrective phase, after a recent strong bullish impulsive move. However, in lower timeframe, the market is performing an interesting situation. The last intraday impulsive move, started consolidating inside a big channel, clue of losing of momentum.
We actually got a confirmation of that, considering a shift of value area after a strong breakout to the downside. Most of you would recognise this pattern as a bearish flag or wedge. When, where and why would I step into the market? Considering the good possibility of bearish momentum, I will be looking for a short opportunity. In order to achieve this trade, few confirmations are essential, a breakout to the downside of the current fair value area and a small consolidation just below the value area, to confirm supply enough to protect my stop loss. Potentially, my entry point would be just below the breakout of the last fair value area and the stop loss above a possible swing high. In the scenario of breakout to the upside, no action will be taken and the trade idea will be invalidated. If you enjoy this trade idea, please support my work with a thumb up and don’t forget to follow my profile for more detailed market analyses! Trade safe and responsibly, Gianni DISCLAIMER Please note the views are not investment advice and should be used only for educational purpose
Short
by UnknownUnicorn18552923
39