POSSIBLE SHORT-TERM SELL IN CADJPYPrice has been falling In recent weeks and today we’re anticipating BoC monetary policy report from the bank of Canada. We anticipate a shorterm sell if price retraces off 113.085
CADJPY trade ideas
eye on the Factors Behind Long CADJPY: A Detailed ExplorationTechnical Outlook:
According to the technical outlook for CADJPY, the current trend is bullish, and the sentiment is oversold based on the 7-period RSI indicator .
The market is approaching a significant support area at 115.742, which indicates a highly probable bullish movement .
Another technical analysis suggests that CADJPY is very bullish .
However, it's important to note that technical analysis is subjective and should be used in conjunction with other factors for decision-making.
Economic Calendar:
The search results do not provide specific information about the economic calendar for CADJPY.
It is important to consider economic events and indicators that may impact the Canadian dollar (CAD) and the Japanese yen (JPY) when making trading decisions.
The US economic calendar is considered important since the US is the largest world economy, and its indicators can have significant effects on other markets and currencies .
The organizations that publish meaningful indicators with a great impact on the markets include the US Bureau of Labor Statistics, the US Bureau of Economic Analysis, the US Census Bureau, and the Energy Information Administration .
CADJPY ShortDaily Bias Bearish
Fundamental Analysis
JPY is strengthening, CAD is weakening (expecting CAD reduce interest rate)
Price Action:
Price broke below H4 SR level and retrace back into the H4 SR level. Going down to M5 timeframe, Price formed a small H&S pattern, price just broke through the neckline of M5 H&S pattern. This supports my analysis of further bearish movement
Confluence:
Higher TF (W/D/H4) - Broke through SR level
Lower TF (H1/M30/M15) - In M5, H&S was formed and broken below the neckline. A bearish momentum candle is formed in M15.
Set up:
Short trade entry at H&S Neckline M5 SR level. SL above the Swing high of H&S. TP targeting the H4 swing low.
cadjpy is bearishcadjpy is heading south towrads 76% fibo level then decide to contiune going down or give a pullback before heading to 23% fibo.
please leave a comment if you like
CADJPY is moving southThe CADJPY pair shows potential for a short position based on fundamental and technical situation.
Canadian Dollar (CAD):
The Canadian Dollar has been declining against major currencies. This trend is primarily driven by the Bank of Canada (BoC) aggressively reducing interest rates. The upcoming BoC interest rate decision, scheduled for Wednesday, is expected to result in a cut to 4.5% from the current 4.75%. This anticipated reduction is likely to exert additional downward pressure on the CAD. These rate cuts aim to stimulate economic activity but also contribute to the devaluation of the CAD in the forex market.
Japanese Yen (JPY):
Conversely, the Japanese Yen is currently the strongest currency among its major counterparts. It is benefiting from a reduction in carry trade activities, which typically involve borrowing in low-yielding currencies like the JPY to invest in higher-yielding assets. As these trades unwind, demand for the Yen increases. Additionally, the Bank of Japan (BoJ) continues to support the Yen through its monetary policy measures, further bolstering its strength.
Conclusion:
Given the contrasting monetary policies and economic conditions in Canada and Japan, the CADJPY pair appears positioned for further downside. The anticipated rate cut by the BoC, coupled with the strong performance of the JPY, suggests that shorting CADJPY could be a decent trading idea.
Don't forget - this is just the idea. Do your own research and manage your risk at all times!
CADJPY 113 is keyIntraday Update: The 113.00 level is key horizontal and ascending trend line support and long term 24% Fibonacci retracement level. A sustained break of 113.00 would usher in a move to the 200dma next.
cadjpy is going to fall morehi traderes
this is my watch for this week
we have support that changes to resistance area
and the shape of movement shows it will be sell zone
Trade Recap - New York / Asia - CADJPY, JP225CADJPY Daily Breakout Continuation Setup
JP225 Weekly Breakout Continuation Setup
CADJPYCADJPY price is near the support zone. 113.559-113.216 If the price cannot break through the 113.216 level, it is expected that in the short term there is a chance that the price will rebound. Consider buying a red zone.
>>GooD Luck 😊
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*Always follow your trading plan regarding entry, risk management
CADJPY - Following The Bulls!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 CADJPY has been overall bullish , trading within the rising channel marked in red.
Currently, CADJPY is undergoing a correction phase.
Moreover, it is retesting massive support zone in green.
🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower blue/red trendlines acting as non-horizontal support.
📚 As per my trading style:
As #CADJPY approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
CADJPY ShortDaily Bias Bearish
Fundamental Analysis
CAD Bearish JPY Bullish
Price Action:
Price retrace back into Daily S/R Level. Price consolidated in the Daily S/R level. Price broke below H1 S/R level and H1 trendline and create a lower low. This has give an confirmation of bearish movement.
Confluence:
Higher TF (W/D/H4) - Daily S/R level retested and rejected
Lower TF (H1/M30/M15) - Rising wedge pattern and H&S pattern were formed, price broke below both pattern to create a lower low.
Set up: Short trade at H&S neckline (H1 SR level). SL above H&S swing high. TP Targeting next Daily swing low R:R 1:4.
Heading into 38.2% Fibonacci resistance?CAD/JPY is rising towards the pivot and could potentially reverse from this level to the 1st support.
Pivot: 115.50
1st Support: 113.82
1st Resistance: 116.23
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CadJPY long4 hour support has been tested.
0ne day tf still searching resistance.
Looking long here.
Cheers
CADJPY Bearish ContinuationThe current price is at the 0.618 retracement level and also at the upper trendline. We predict that the price will continue to decline until it reaches its major support level.
TP: 113.279 (+2)
SL: 115.529 (75 pips)
buy on CADJPYwe have a falling wedge forming on the structure of the pair and a descending channel forming on resistance then a continuation pattern (arch symmetrical triangle) forming to confirm the push to the upside
CADJPY : ANOTHER BEARISH BREAKOUT- Similarly to our previous analysis on USDJPY, the CADJPY pair has been trading above a bullish trend line for 7 months ; the mid-term trend was bullish.
- Since the impact around 118.85, the market has registered a sharp pull-back that first led prices back to their bullish trend line around the 23.6% Fibonacci support above 115.385, before a bearish break-out occurred.
This bearish break-out was initially anticipated by the RSI indicator, which took place following a bearish divergence inside the overbought zone.
Both moving averages are now reversing to the downside, but a bearish is cross is still yet to be seen.
- Just like the current situation seen on the USDJPY pair, it is hard to say whether the current correction will go much deeper or not.
However, 113.25 (38.2%) and 111.50 (50%) should be seen as interesting targets for this bearish movement.
Pierre Veyret, Technical Analyst at ActivTrades
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Buying CADJPYI will be taking a quick scalp on CJ. My over all bias is bullish but i expect a sweep of liquidity resting below before a push to the upside. I will be monitoring the movement of the market to see an changes
Cadpjpy sellPrice is at a previous low that was broken by bearish candle . Currently retesting same area as resistance / support into resistance
Quarter point to quarter point for Take profit
Heading into 38.2% Fibonacci resistance?CAD/JPY is rising towards the resistance level which is an overlap resistance that lines up with the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 115.51
Why we like it:
There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement.
Stop loss: 116.29
Why we like it:
There is an overlap resistance level which aligns with the 50% Fibonacci retracement.
Take profit: 113.80
Why we like it:
There is a pullback support level.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
CADJPY 15-Minute ChartThe red highlighted area at the top indicates a resistance zone where the price has repeatedly failed to break higher.
This suggests strong selling pressure at this level.
The recent price action shows a potential bearish trend.
Given the repeated failure to break above the resistance zone and the projected downward movement, market sentiment appears bearish for CADJPY in the short term.
Consider entering a short position around the current price level or upon confirmation of a downward move from the resistance zone.
Targets would be the support levels at 114.708 and 114.098.
Ensure proper risk management by sizing the position appropriately and setting stop losses.
CADJPY is BearishPrice has broken the trendline, and is consistently printing lower highs and lower lows, with no divergence on RSI the trend is likely to continue as per Dow theory. Targets are mentioned on the chart.
Sell CAD/JPY Breakout PatternThe CAD/JPY pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent breakout from a Bearish Pennant Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position Below the Broken Trendline Of The Pattern After Confirmation. Ideally, This Would Be Around 115.70
Target Levels:
1st Support – 114.65
2nd Support – 114.12
Stop-Loss: To manage risk, place a stop-loss order above 116.10. This helps limit potential losses if the price falls back unexpectedly.
Thank you.
Reacting off pullback support?CAD/JPY is reacting off the support level which is a pullback support that lines up with the 127.2% Fibonacci extension and could bounce from this level to our take profit.
Entry: 115.53
Why we like it:
There is a pullback support that lines up with the 127.2% Fibonacci extension.
Stop loss: 114.92
Why we like it:
There is a pullback support that lines up with the 161.8% Fibonacci extension.
Take profit: 116.97
Why we like it:
There is an overlap resistance level which is slightly above the 38.2% Fibonacci retracement.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
