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Cadjpytrade

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.
Long
by Tickmill
1
CADJPY on major resistance!CADJPY is seeing major resistance at 89.75 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) and a strong drop could occur at this level pushing price down to at least 88.52 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 100% where it is dropping nicely from now. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
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
Long
by MisterRay
CAD/JPY = The House of SellersThis pair had been trying to rally past the daily resistance over the past few weeks but failed to do so. With confirmation from the tested resistance levels on Daily (Tested thrice), it is safe to assume that buyers are no longer in-charge to push this pair higher to to resume its bullish movement. Nonetheless, the pair had been going down ever since the incident aforementioned. As of indicated, the pair is rallying up and down in a box (Zone) between 89.860 - 89.420. If the price manage to break the weak support at 89.420, rest assured that this pair is going to bleed further down to our First Targeted Take Profit Level 1. Upon reaching the targeted take profit level 1. It's worth noted that the price action had to break the Level 1 zone before further pushing it to the level 2 zone as the Level 2 take profit zone is a near reflection of the Weekly Support level which gives us a huge idea on the pair's price action movement. However, let's not forget that the weekly candlesticks showed a superbly strong reversal signs which supported the Daily Bearish movement since 91.220. Way too go sellers ! Thus, here is my short rules as mentioned below Buy/Sell = Sell (Short) Pips: Potential of 3000+ pips run (If there is no rallies in between the downstream). Targeted TP Level: Level 1 (Safest). (Level 2 if Level 1 Breakout happened). Lot Sizing: Your prefer risk-reward settings. My risk management is in between 1 - 3 %. Confidence level: 1 - 10? (10 Max out). Technical or Fundamentals: Pure Technical. Fundamental will help push it down moar ! Have fun trading and let's profit together :)
Short
by maggedon
CAD/JPY 1H Chart: Channel UpCAD/JPY 1H Chart: Channel Up The Canadian Dollar is recovering against the Japanese Yen in a short-term ascending channel that expectedly started to form as soon as the preceding downtrend has changed. By the moment, it already consists of four confirmation points and might be broken in the present week. Given that that the 100-hour SMA and the updated weekly PP at 87.24 have formed a combined support barrier, it is unlikely that that currency pair will manage to break to the south. This probability increases even more, taking into account that the channel’s bottom boundary is also secured by the 200-hour SMA. The opposite side, in contrast, has an absolutely free area up until the weekly R1 at 88.15 and the monthly PP at 88.18.Thus, the surge is expected to continue at least until that resistance level.
by UnknownUnicorn890690
CADJPY Short 4H chartHi traders, We are going to wait for a break of the trendline after a triple top has been created with a final exhaustion move. After the price, I suggest going short with half position as I'd like to wait for a break of the strong zone that has been drawn with a light blue rectangle. Once this is broken with a momentum candle, I will go short. There was a long uptrend before so I suspect a strong push to the downside after the price has consolidated for a longer time. As always, please be patient and wait for confirmation!
Short
by FromForkToFingers
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
Short
by JoshFX1
2
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).
Long
by bearvsbullmarket