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CADJPY trade ideas

Potential bullish rise?CAD/JPY has reacted off the pivot and could rise to the 1st resistance which lines up with the 50% Fibonacci retracement. Pivot: 103.30 1st Support: 102.36 1st Resistance: 105.36 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
CAD/JPY 4H and 1H - SELL OANDA:CADJPY Analysis 4-Hour Chart Analysis The 4-hour chart shows CAD/JPY in a clear downtrend with lower highs and lower lows. Key observations: Price has been declining from around 110.500 to current levels around 103.079 Recently formed a potential double bottom around 102.500 level Currently showing some consolidation/minor bounce from these lows Price is below key moving averages (based on the chart structure) 1-Hour Chart Analysis The 1-hour chart provides a closer look at recent price action: Shows a recent bounce from the lows Price has formed a small consolidation pattern Currently at 103.079 with a -0.07% daily change Some short-term resistance likely around 103.500-104.000 area Trade Setup: Direction: Looking for potential short entry Entry Point : Enter short at 103.500-103.700 zone (on a rejection/failure to break higher) Stop Loss: Place stop at 104.000 (approximately 30 pips from entry, matching your risk tolerance) Take Profit: Target the recent lows at 102.500 area (100+ pip potential) Risk-to-Reward Ratio: Approximately 1:3 Rationale: The dominant trend is clearly bearish on larger timeframes Recent bounce appears corrective rather than trend-changing Previous support levels often become resistance on retests The 103.500-104.000 zone should act as resistance Alternative Scenario: If price breaks above 104.000 with conviction, I would avoid entering and reassess the setup, as this could indicate a deeper correction or potential trend change. Important Note: Wait for price action confirmation at the resistance zone before entering (such as bearish engulfing, rejection candles, or failure to break higher with diminishing volume).
Short
by ShlomoYahbes
CADJPY BULLISH CADJPY – Potential Bullish Reversal Setup CADJPY has been in a sustained bearish trend; however, signs of a potential reversal are emerging. A bullish divergence has been identified on the RSI, signaling weakening bearish momentum. Additionally, the price has broken out of a parallel descending channel, further supporting the possibility of a trend reversal. Moreover, the structure has shifted as the previous Lower High (LH) has been broken, indicating the first sign of bullish strength. Based on this confluence of factors, I am entering a buy position immediately, anticipating further upside continuation. Key Confluences: RSI bullish divergence Breakout of the descending parallel channel Structure break of the previous Lower High (LH) Disclaimer: This analysis is for educational purposes only and not financial advice. Always manage your risk accordingly.
Long
by razashabbir218
POTENTIAL LONG TRADE SET UP FOR CADJPYAnalysis: Utilizing chart patterns, highs & lows, and impulses & corrections, the focus is on identifying a continuation corrective structure following a breakout. The price has approached a previous swing low zone on the higher time frame (HTF) while moving within a descending structure on the MTF. The price has broken out of the MTF descending structure and we will now monitor for a continuation structure to identify a potential entry point for the trade. Expectation: A upward move is expected. ⚠️ Reminder: Always conduct your own analysis and apply proper risk management, as forex trading involves no guarantees. This is a high-risk activity, and past performance is not indicative of future results. Trade responsibly!
Long
by TheTradingAmbience
CAD/JPY: Diverging Fundamentals Signal More DownsideFundamental Analysis: • The Non-Weighted Currency Index of the JPY has just broken out of a triangle to the upside, indicating JPY strength at the moment. • Japan’s 10-year bonds have been in an uptrend for months and have just rejected the 50% Fibonacci level to the upside. • The BoJ remains one of the most hawkish central banks, and Japan’s economy continues to show strength, marked by rising inflation since November 2024. • Meanwhile, the Non-Weighted Currency Index of the CAD has been in a downtrend for a long time, signaling CAD weakness against other currencies. • Canada’s 10-year bonds are currently range-bound, but the structure resembles a bearish flag, suggesting a possible breakdown below support. • The Canadian economy is stagnating, and while unemployment has decreased compared to the previous month, it remains relatively high. • Canadian inflation is slightly below the BoC’s target, which suggests that after their recent 25 bps rate cut, they may cut rates further to boost inflation back to 2%, stimulate the labor market, and increase GDP growth. • Additionally, the downtrend in oil prices does not support CAD appreciation. Technical Analysis: • On the Weekly timeframe, we observe an ascending triangle that has just broken to the downside. • On the Daily timeframe, sellers failed to push the price down significantly, indicating weak momentum on the breakout. This suggests a pullback/retest towards the trendline or Fibonacci levels is likely. • The 50 SMA on the Daily chart is acting as strong resistance. • The 200 SMA has also been rejected on the Daily timeframe. • On the 4H timeframe, price is indeed retracing towards the trendline and/or Fibonacci levels. • COT Report aligns with my bias. • 82% of retail traders are positioned on the opposite side (buying).
Short
by Marco-kh