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JAPANESE YEN / CANADIAN DOLLAR

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JPYCAD trade ideas

#CADJPY 1DAYCADJPY (1D Timeframe) Analysis Market Structure: The price is currently respecting a channel support level, indicating that buyers are defending this zone. This support has previously acted as a strong area for reversals, suggesting the possibility of a bullish move if the price holds above it. Forecast: A buy opportunity is expected if the price confirms a bounce from the channel support, signaling potential upside movement within the channel. Key Levels to Watch: - Entry Zone: Near the channel support after confirmation of bullish signals. - Risk Management: - Stop Loss: Placed below the channel support or the recent swing low. - Take Profit: Target the midline or upper boundary of the channel for potential upward movement. Market Sentiment: The channel support level suggests that buyers may take control if the price holds above this area. Confirmation of a bounce is recommended before entering a trade to align with the prevailing market structure.
Long
by PIPSFIGHTER
CAD/JPY at Key Support Zone: High-Probability Trading Scenariohe CAD/JPY is approaching a critical support zone (107.50 - 108.00) on the daily chart, providing multiple trading opportunities based on key technical setups. Here's a breakdown of potential scenario Scenario 1: Buy at Key Support (107.2 - 105.7) Rationale: Strong confluence of support from prior lows (point B), ascending trendline, and Fibonacci retracements. TDI Indicator is near oversold levels with bullish divergence, signaling a potential reversal. High probability of a bounce from this support zone. Trade Parameters: Buy Zone: 107.2 Stop Loss: 105.7 Take Profit Targets: Target 1: 114.6 (intermediate resistance) Target 2: 118.6 Risk-Reward Ratio: 1:4 The strategy offers a great probability of success, supported by strong technical confluences and favorable risk-reward dynamics. Monitor price action and volume closely ON LOWER TIMEFRAMES to validate entries.
Long
by MrVNpt
1
Short on Cadjpyhello guys we see cadjpy has been bearish even on the daily , we saw that it broke out of a bullish channel Wich was acting as a correction on the daily, now if you see closely we are on the impulse movement, price is busy creating LL and LH, we will wait for it to pull back then we will enter as always , so feel free to comment guys , if you doubt look at my past ideas, somehow I am getting better and better , feel free to drop your thoughts lets help each other,
Short
by Kings_Of_Society
CADJPY - Bearish Continuation After Support BreakOANDA:CADJPY has broken through a key support level and is now retesting this level as resistance. If the resistance holds, it could pave the way for a deeper move downward, with the 106.600 level emerging as the next major area of interest. This level also aligns with a significant support zone, making it a critical area where buyers may attempt to regain control. Traders are advised to monitor for bearish confirmation signals, such as bearish engulfing candlestick patterns, rejection wicks, or strong selling volume at the retested resistance level. Such signals would reinforce the probability of a continuation to the downside. However, a decisive break back above the resistance zone would invalidate the bearish scenario
Short
by TrendDiva
1
CADJPY Technical Analysis! SELL! My dear friends, Please, find my technical outlook for CADJPY below: The instrument tests an important psychological level 109.09 Bias - Bearish Technical Indicators: Supper Trend gives a precise Bearish signal, while Pivot Point HL predicts price changes and potential reversals in the market. Target - 108.48 About Used Indicators: Super-trend indicator is more useful in trending markets where there are clear uptrends and downtrends in price. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
CADJPY Head and Shoulders?Not the most obvious and clear pattern here. But it does look like we might be seeing a head and shoulders most visible on the weekly chart. Price has hit a strong resistance zone around 110.60 and has been ranging between that area and 104.60. It is a nice enough range to build a position into looking for a short and a possible break of the neckline (which I would consider with a weekly close below the trend line of the right shoulder). I know this one is not that clean and clear, but hey, they can't all be and trading is about reading Price Action and accepting the risk of you put on your position. In what I call my 1 to 10 "edge scale" (simply put, my degree of conviction about a trade, with 10 being that impossible number on probabilities, would mean that I am 100% sure, never happens!) this one would be a a 4 or 5 for now. Let's see how it moves and what patterns it shapes.
by Taguspt