CADJPY trade ideas
#CADJPY Sell 108.533 - 108.733💎 #CADJPY Sell 108.533 - 108.733 💎
Stoploss 109.133
Breakeven+ 108.483
TakeProfit 1: 108.333
TakeProfit 2: 108.133
TakeProfit 3: 107.933
TakeProfit 4: 107.733
TakeProfit 5: 107.533
TakeProfit 10: 106.533
TakeProfit 20: 104.533
TakeProfit 30: 102.533
Trade at your own risk
Protect your capital
The Wizard 🧙♂️
Monday 01/20/2025 06:45 PM EST
CADJPY: Long Signal with Entry/SL/TP
CADJPY
- Classic bullish setup
- Our team expects bullish continuation
SUGGESTED TRADE:
Swing Trade
Long CADJPY
Entry Point - 107.69
Stop Loss - 107.17
Take Profit - 108.75
Our Risk - 1%
Start protection of your profits from lower levels
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CAD/JPY H4 | Rising into overlap resistanceCAD/JPY is rising towards an overlap resistance and could potentially reverse off this level to drop lower.
Sell entry is at 108.82 which is an overlap resistance.
Stop loss is at 109.72 which is a level that sits above the 127.2% Fibonacci extension level and a pullback resistance.
Take profit is at 107.59 which is a swing-low support that aligns close to the 61.8% Fibonacci retracement level.
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CAD/JPY BULLISH BIAS RIGHT NOW| LONG
Hello, Friends!
We are now examining the CAD/JPY pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 110.323 level.
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SELL CADJPY - Confluence = ConfidenceTrader Tom, a technical analyst with over 16 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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CAD/JPY Sell AnalysisCAD/JPY is exhibiting bearish momentum after breaking below the ascending channel. This breakdown signals a potential shift in market sentiment, with sellers gaining control. The price is currently trading below the channel's lower trendline, confirming bearish pressure.
The next significant target lies around the 106.00 support level, which aligns with a previous demand zone. A retest of the broken trendline near 108.00 could occur before the downtrend resumes, providing a better entry for sellers.
Traders must exercise caution and set their stop-loss levels according to their risk management to protect against unexpected reversals. The bearish outlook remains valid as long as the price stays below the broken channel. 📉
CAD-JPY Bearish Bias! Sell!
Hello,Traders!
CAD-JPY broke both the
Rising and horizontal
Support line which are
Now resistance areas
And the breakout is
Confirmed so we are
Bearish biased and we
Will be expecting a
Further bearish move down
Sell!
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Check out other forecasts below too!
Weekly Forex Trade Planning SessionAnalysed Pairs: CAD/JPY, GBP/USD, USD/JPY, USD/CAD, EUR/CAD
Market Overview:
USD & JPY: Bullish
CAD: Mixed
EUR & GBP: Weak
Price Analysis:
CAD/JPY:
Trend: Downtrend
Current Position: At Momentum Low
Outlook: Expecting a bullish pullback in the next phase.
GBP/USD:
Trend: Downtrend
Current Position: Trading at Momentum Low 5
Outlook: Potential for bearish continuation. Watch for a bullish reversal above 1.2186. A break below 1.2160 could signal further downside.
USD/CAD:
Trend: Strong Uptrend
Current Position: After a trend reset breaking the momentum high
Outlook: Avoid buying at the high; wait for a pullback to go long. Alternatively, look for short opportunities if the price breaks below the reset point.
USD/JPY:
Trend: Correction in Downtrend
Current Position: Observing Wave Structure 3
Outlook: Potential for a bullish secondary trend. Using Fibonacci levels, the price has paused at the 61.8% T2 target. If the high of Wave 3 isn't broken, the downtrend may resume.
EUR/CAD:
Trend: Trend-changing pattern after last pullback
Outlook: Look to sell on a break below 1.4860, with targets at 1.4825 and 1.4810.
Happy Trading!
CAD/JPY Rising Channel Breakdown Looms Bears in Play !Rising Channel Formation
The price is trading within a rising channel, indicating a potential bullish continuation or a reversal depending on how the price reacts near the channel's boundaries.
The upper boundary of the channel acted as resistance, where a rejection occurred, leading to a short setup.
Golden Pocket Zone
Around the 108.660–108.491 level, a "Golden Pocket Zone" is marked, indicating an area of potential caution due to increased market indecision.
This zone aligns with Fibonacci retracement levels or historical pivot points.
Support Levels
A Good Trading Zone is identified between 107.248–106.780, which represents a potential support area for price reversal or consolidation.
Wicks Pivotal Point near 105.851–105.817 serves as a critical demand zone where significant buying interest might reemerge.
Short Position Setup
Entry Signal: A Sell signal was triggered near the channel's resistance line, supported by a failure to break higher. The price also exhibited a rejection at a critical resistance level within the Golden Pocket Zone.
Profit Levels
The Peak Profit 0.22% label indicates a modest gain so far, suggesting a potential continuation if the price breaks below the channel support.
A prior Peak Profit 2.96% was achieved on a similar short setup from a lower level, confirming the bearish potential within the structure.
Target Levels
First target: 107.248, aligning with the Good Trading Zone.
Second target: 106.780, which is the bottom of the Trading Zone.
Extended target: 105.851, Wicks Pivotal Point, for a more aggressive short.
Stop-Loss Placement
A stop-loss should be positioned above the Golden Pocket Zone (around 109.000) to protect against false breakouts or unexpected bullish momentum.
Technical Patterns and Indicators
Rejection Candlesticks
The price formed bearish rejection candles near the channel's upper boundary and the Golden Pocket Zone, indicating strong selling pressure.
Trendline Confluence
The lower boundary of the channel intersects with the 107.248 level, adding confluence for a possible bounce or further breakdown.
Momentum Analysis
The price appears to lose upward momentum after several failed attempts to make a higher high, suggesting sellers are gaining control.
This short position aligns with the current market structure, leveraging resistance levels, a rejection from the upper trendline, and bearish momentum. However, traders should exercise caution near the identified support zones and adjust stop-loss levels based on intraday volatility. A clear break below the Good Trading Zone could open the door to extended downside potential toward the Wicks Pivotal Point.
CADJPY: Time to Drop LowerCADJPY had been consolidating in a wide trading range for nearly a month before a significant news announcement caused the pair to turn bearish.
The price broke below a key support level on the daily chart, indicating a potential downward trend.
The next support level to watch for is at 107.15.
CADJPY: Bearish Continuation Confirmed 🇨🇦🇯🇵
It looks like CADJPY is returning to a bearish trend.
The price completed a consolidation within a bearish flag
and violated its support with a high momentum bearish candle yesterday.
With a high probability, the pair will continue falling soon.
Next support - 107.15
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System gives a short signalPrice seems to be bearish. My system tells me to get short. When/if 1st target gets hit, i will then move my stops to breakeven and then it will be a risk free trade.. With a risk ratio of 1:3 i can be wrong more than 60% of my trades and still be profitable. I never risk more than 2% per trade.
CAD/JPY breaks trend lineAlong with other yen crosses, the CAD/JPY has been printing bearish price action this week amid rising expectations that the BoJ will tighten its belt next week.
The narrowing of yield differential between Japan and those of the rest of the world have helped to put some downward pressure on the al JPY pairs.
Having broken the 108.55-108.90 support area (shaded in red), this area may now turn into resistance upon re-test from below.
The next level of support is seen around 107.50/60 area, followed by the longer-term bullish trend line. Should this trend line also break down then we could see an accelerated move lower in the coming days.
By Fawad Razaqzada, market analyst with FOREX.com