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CADJPY trade ideas

CADJPY next move (expecting bearish move)(22-01-2025)(mid term)Go through the analysis carefully and do trade accordingly. Anup 'BIAS for the day (22-01-2025) (mid term) Current price- 109.000 "if Price stays below 111.000, then next target is 105.000 and 103.000 and above that 115.000 ". -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of principal to follow any position. Support us by liking and sharing the post.
by AnupZiddi
4
Short**Market Outlook and Technical Perspective** **Key Price Levels:** - **Resistance Threshold:** 113.030 – A decisive break above this level would negate the bearish outlook, suggesting potential trend reversal. - **Support Targets:** Immediate downside targets are 106.332 and 104.805, with a critical *Major Support* at 102.800. A close below 102.800 confirms renewed selling momentum. **Chart Pattern & Trend Dynamics:** - A **descending flag pattern** is emerging on the chart, typically a bearish continuation signal. This reinforces expectations of a downward leg, targeting the noted support levels. - Price remains below the **WEMA21** (21-period Weighted Exponential Moving Average), which now serves as dynamic resistance. Any upward retracement could face selling pressure near this moving average. **Momentum Analysis:** - **RSI (Relative Strength Index):** At 41, the RSI reflects bearish momentum but is not yet oversold. A sustained downtrend in the RSI (marked by its own unbroken bearish trendline) aligns with the price’s weakness. - **Recent Price Action:** The peak at 111.550 (20 Nov 2024) established a lower high, signaling fading bullish strength and opening the door for further declines. **Scenario Analysis:** 1. **Bearish Continuation:** While price holds below 113.030, the path of least resistance favors a drop toward 102.800, especially if sellers breach 106.332. 2. **Bullish Invalidation:** A close above 113.030 or a break of the RSI’s downtrend line could signal short-term bearish exhaustion, warranting caution for downside bets. **Conclusion:** The confluence of the descending flag, resistance at WEMA21, and RSI momentum supports a bearish bias. Traders should monitor reactions at 106.332 and 104.805 for downside acceleration, while guarding against a surprise break above 113.030 that would challenge the current thesis.
Short
by Rohan_Jas
CADJPY - Sell Opportunity After Support BreakOANDA:CADJPY has broken a key support zone, signaling a potential increase in bearish momentum. The price is currently retesting this broken support, which now serves as resistance. If sellers confirm resistance at this level, the price is likely to move downward toward the 103.970 level, aligning with the prevailing bearish trend. Conversely, a failure to hold resistance could suggest a potential bullish shift. Traders should monitor for bearish confirmation signals, such as bearish engulfing candles or increased selling volume, before considering short positions. Let me know your thoughts or any additional insights you might have!
Short
by DanieIM
2