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CADJPY bullish breakout | 31st Dec 2021Price broke out of the descending trendline resistance, signifying an overall bullish momentum. We can expect price to bounce from pivot level in line with 23.6% Fibonacci retracement towards take profit level in line with 127.2% Fibonacci projection. Our bullish bias is further supported by the Ichimoku cloud indicator where price ids holding above it. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
1
⚜CADJPY SHORT 430pipsHello Traders, 🙋‍♂️🙋‍♂️🙋‍♂️ Here we have a CADJPY long trade idea. If you like this idea please show your support! JPY The Japanese Yen ( JPY ) has been very weak recently however we are anticipating JPY strength soon which will push this pair further down. This weakness can also be seen in my other ideas, such as GBPJPY which correlated with this pair. CAD The Canadian Dollar ( CAD ) has been very strong recently. We have been approaching our trendline for some time and we have been anticipating another touch. We shorted in this location as we can see a trendline & a structure level. CADJPY has been dropping for some time, this can be seen on my 750 pip CADJPY short idea shared a few months ago. We are expecting some strength in this currency as we are expecting a correction. CADJPY Shared 20/10/21 In this trade we are risking 30 pips to secure 430 pips! This has given us a RISK:REWARD of 1:14.33! This is an insane return for the tiny risk. If you want to improve your trading, check out my other ideas! 📲 Please trade with caution and make sure you set your stop losses! Happy Trading 😁 Be sure to check out my other ideas below! ⚜⚜⚜⚜⚜
Short
by Pips-Collector
CADJPY is on bearish momentum! | 28 Dec 2021Price is on bearish momentum. We see the potential for a dip from our sell entry at 90.216 which is an area of Fibonacci confluences towards our Take Profit at 89.389 23.6% Fibonacci retracement. RSI is a at a level where dips previously happened. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
CADJPY potential for bearish reaction! | 27 Dec 2021Prices are on bearish momentum and consolidating at an area of Fibonacci confluences. We see the potential for a short entry at 89.462 in line with our descending trendline and are of Fibonacci confluences towards our Take Profit at 88.283 in line with 61.8% Fibonacci retracement and graphical swing low. Price is trading below our MA and also Ichimoku further supports our bearish bias. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
CADJPY bearish continuation | 23rd Dec 2021Price is abiding to the descending trendline resistance, signifying an overall bearish momentum. We can expect price to drop from the pivot level in line with 61.8% Fibonacci projection towards take profit level in line with 78.6% Fibonacci projection. Our bearish bias is further supported by the stochastic indicator where the the %K line is at the resistance level. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
CADJPY potential for reversal | 16th DecPrice is abiding by the descending trendline and near buy entry level of 88.212 which is also 61.8% Fibonacci retracement and 61.8% Fibonacci projection. Price can potentially go to the take profit level of 90.288 which is also 78.6% Fibonacci projection . Our bullish bias is supported by the stochastic indicator as it is on support level. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
CADJPY Long Idea CADJPY has recently seen a 2.23% sell-off in the direction of the key support level of 87.372. The last time that the price reached this level there was a 2.78% rise in price to the 90.388 area. CADJPY has been in a downtrend since the 21st of October and has traded underneath the overhead resistance since. The price is currently trading at 88.374, and appears to be approaching the key support level mentioned above. The RSI indicators on the 4hr chart are showing oversold levels (11.34) which shows that price could rise from this point. Today at 1:30 pm, the CAD inflation YoY rate data will be released. A reading higher than the 4.7% consensus could mean CAD pairs will rise which complies with this long analysis. Later on today JPY's Balance of Trade will be released which will impact CADJPY, a reading higher than the -¥675B consensus which is bullish for JPY and bearish for CADJPY. The target for this trade is at 90.346 with a stop at 87.427.
Long
by Orion-Markets
CADJPY bearish continuation | 7th Dec 2021 Price is abiding to the descending trendline on the daily, signifying an overall bearish momentum. We can expect price to drop from the pivot level in line with 127.2% and 50% Fibonacci retracement towards take profit level in line with 78.6% Fibonacci projection and horizontal swing lows. Our bearish bias is further supported by the Ichimoku Cloud where price is holding below it. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
2
CAD JPY - FUNDAMENTAL DRIVERSCAD FUNDAMENTAL BIAS: WEAK BULLISH 1. The Monetary Policy outlook for the BoC At their Oct meeting the BoC surprised to put an early end to QE purchases and updated forward guidance to suggest an earlier lift off in rates by explaining that project economic slack to be absorbed by the middle quarters of 2022. The initial reaction was bullish as one would expect but the biggest risk to further upside for the CAD from here is the fact that a lot of these positives that was confirmed by the BoC has already been reflected in both the CAD and rates markets over the past few weeks. The CAD has seen a similar run to the upside back in 1Q21 with the BoC’s hawkish tilt, and similarly to that we feel current prices for rates and the CAD already reflect a great deal of the positives. Thus, even though the med-term outlook remains tilted to the upside for the CAD, there is the risk of seeing some unwind of the recent upside and is something to be mindful of when making any med-term allocations to the upside in the CAD. Last week’s Oct CPI data was a good example of this where the currency saw outsized downside on an uninspiring print. It’s not that CPI was bad, it was broadly in line with expectations, but with all the positives already priced it would have taken a really exceptionally strong print to keep the CAD’s upside momentum going. Another interesting driver for the months ahead, which could put a break on the BoC’s hiking path, is the close to 350% debt to GDP for Canada, which will make it very painful if rates start rising and for some like HSBC means the hike cycle could be very short. 2. Commodity-linked currency with dependency on Oil exports Oil’s massive post-covid recovery has been impressive, driven by three drivers: supply & demand (OPEC’s production cuts); improving global economic outlook and improving oil demand outlook, even though slightly pushed back by Delta concerns; rising inflation expectations. Even though further gains for Oil will arguably prove to be an uphill battle, the bias remains higher in the med-term as long as current supportive factors and drivers remains intact. 3. Developments surrounding the global risk outlook. As a high-beta currency, the CAD benefited from the market's improving risk outlook coming out of the pandemic as participants moved out of safe-havens. As a pro-cyclical currency, the CAD enjoyed upside alongside other cyclical assets supported by reflation and post-recession recovery best. If expectations for the global economy remains positive the overall positive outlook for risk sentiment should be supportive for the CAD in the med-term , but recent short-term jitters are a timely reminder that risk sentiment is also a very important short-term driver. JPY FUNDAMENTAL BIAS: BEARISH 1. Safe-haven status and overall risk outlook As a safe-haven currency, the market's risk outlook is the primary driver of JPY. Economic data rarely proves market moving; and although monetary policy expectations can prove highly market-moving in the short-term, safe-haven flows are typically the more dominant factor. The market's overall risk tone has improved considerably following the pandemic with good news about successful vaccinations, and ongoing monetary and fiscal policy support paved the way for markets to expect a robust global economic recovery. Of course, there remains many uncertainties and many countries are continuing to fight virus waves, but as a whole the outlook has kept on improving over the past couple of months, which would expect safe-haven demand to diminish and result in a bearish outlook for the JPY. 2. Low-yielding currency with inverse correlation to US10Y As a low yielding currency, the JPY usually shares an inverse correlation to strong moves in yield differentials, more specifically in strong moves in US10Y . However, like most correlations, the strength of the inverse correlation between the JPY and US10Y is not perfect and will ebb and flow depending on the type of market environment from a risk and cycle point of view. With bond yields looking a bit stretched at the current levels any decent mean reversion is expected to be supportive for the JPY, so it remains a key asset class to keep track. Currently we do see more downside risks compared to upside risks for US10Y as we think markets have been too aggressive for what they have priced in for the Fed for 2022. If yields continue to drift lower as we saw on Friday last week, that could see further JPY gains and remains a key asset to keep track of.
by thunderpips
17
CADJPY Same Bullish Structure, Wait for buy entry Hi traders: Similar like USDJPY, CADJPY and few other JPY pairs are showing signs of bullish price action. From the higher time frame, price has already impulse up from the descending structure, and continue its impulse phase. It hits the previous highs and pushed down, only to form into a reversal correction and continue upwards. Latest price development shows that we have another lower time frame impulse up, breaking above previous highs, and is now forming into another continuation correction which is what we see here on the lower time frames. To confirm the next move up, wait for price to break above the current LTF continuation correction, and watch for smaller, LTF correction to set entry orders for the buys. Thank you
Long
by jojofang0901
12
CADJPY short term bullish bounce | 22nd Nov 2021Price is abiding to the descending channel on the H4, signifying bearish momentum. However, we can expect price to make a short term bullish bounce from pivot level in line with 50% Fibonacci retracement towards take profit level in line with 61.8% retracement and 161.8% Fibonacci projection. Our short-term bullish bounce is further supported by stochastic indicator in line with %K line where it is a the support level. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Long
by Rockqet
CADJPY bearish momentum! | 15 Nov 2021Price has formed a head and shoulders pattern and double top. We see a potential sell entry at 90.832 towards our Take Profit at 90.512 in line with 100% Fibonacci extension. Technical indicators are showing bearish momentum. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
Short
by Rockqet
2