CAD/JPY Possible reverse?!The pair is forming a nice double top pattern, after a long and strong positive run. Price is getting its correction, so a negative movement is about to happen. Take your profits at the level of 88.50, or even risk it further to 87.50, which are very strong support/resistance lines
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Good Luck and Good Trades
Cad-jpy
CAD/JPY: Trading the breakout, check it out! Simple Price action
This nice 4-day trend line broke and as you can see, CDV seems to confirm this move (zoom in to see it better).
I added a Fibonacci extension and you can see that the next possible target is at around 88.130 levels.
I am short, entered @ 88.520.
A 40-pip trade if it goes the right way!
Trade with care and show some ❤❤
Jesse
CADJPY facing bullish pressure | 03 May 2021Prices are facing bullish pressure from ascending trendline support and horizontal swing low support in line with 100% Fibonacci extension and 61.8% Fibonacci retracement . Prices might push up towards -61.8% FIbonacci retracement and 127.2% Fibonacci extension . If prices push downwards, prices might take support from horizontal support in line with 50% Fibonacci retracement and 161.8% Fibonacci extension . EMA is also below prices, showing a bullish pressure for prices.
CADJPY facing bullish pressure | 03 May 2021Prices are facing bullish pressure from ascending trendline support and horizontal swing low support in line with 100% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards -61.8% FIbonacci retracement and 127.2% Fibonacci extension. If prices push downwards, prices might take support from horizontal support in line with 50% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.
CADJPY facing bullish pressure, potential for further upside!Prices are facing bullish pressure from ascending trendline support and horizontal swing low support in line with 100% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards -61.8% FIbonacci retracement and 127.2% Fibonacci extension. If prices push downwards, prices might take support from horizontal support in line with 50% Fibonacci retracement and 161.8% Fibonacci extension. EMA is also below prices, showing a bullish pressure for prices.
CADJPY - IN TREND ENGULFING LONG SETUP (D)Confluences:
Re-accumulation forming
Recent higher highs
Spring closed above previous body high
Strong lower bollinger band outbreak
Large bullish engulfing candle
TP set at previous candle body highs. Trail SL for max profit.
SL set below engulfing candle low.
CADJPY - Watch Out For Bears! 🐻CADJPY has approached one of 2 areas of interest. Keep a look out for the ascending trendline on smaller timeframe to break. If price pushes up, the next area of interest would be the major descending trenldine.
See links below for the JPY index where we are looking for bullish reversal.
Goodluck and Trade safe!
CADJPY - Watch Out For Bears! 🐻CADJPY has approached one of 2 areas of interest. Keep a look out for the ascending trendline on smaller timeframe to break. If price pushes up, the next area of interest would be the major descending trenldine.
See links below for the JPY index where we are looking for bullish reversal.
Goodluck and Trade safe!
COT CURRENCY REPORTAUD, NZD & CAD:
The biggest mover among the three high beta majors was the CAD which showed a fairly big increase in net long positioning of +10K. What is even more interesting about this is that it occurred before the BOC meeting on Wednesday, which means this Friday’s data should show yet another big increase in positioning after the hawkish tilt from the BOC.
In terms of the AUD, positioning is back in negative territory after a -5K position change, fairly large and most likely due to the exacerbated downside we saw the AUD two weeks ago with the risk off flush in risk assets which hit the AUD much harder than it’s high beta counterparts.
This week will be fairly light on the data front for the CAD and NZD with CPI data in focus for the AUD. We would expect the CAD’s upward momentum to continue after the BOC’s meeting but as always external factors such as risk sentiment and oil will be important considerations.
JPY, CHF & USD:
US 10-year bond yields remains one of the key drivers for the USDJPY and a key asset to watch for the next direction of the pair. With the overall global risk outlook as well as the med-term bias for US10Y still tilted higher, we still expect USDJPY to drift higher and would keep a close eye on the price action for additional upside opportunities.
As for the Dollar, not much has changed. The med-term bias remains titled to the downside, and the move lower in US10Y has certainly also helped to push the greenback lower. This week we do have the upcoming FOMC meeting as well as Q1 GDP.
Even though markets are not expecting a lot from the FOMC there are a few caveats that could create some volatility in the Dollar.
GBP:
Sterling finally started to show more signs of life this past week, but once again did not manage to take advantage of that strength versus the EUR. The market’s continued expectations for a recovery narrative in the EU has continued to keep the EUR supported, alongside a continued push lower in the USD.
The fundamental outlook for the GBP remains unchanged, and with some of the upside positioning being unwound, we would expect the GBP to resume its med-term upside momentum. However, it does seem like markets might be waiting for a catalyst in the short-term to do so.
EUR:
Still the biggest net-long position among the majors. There are still issues surrounding the fundamental outlook for the single currency, but despite that the EUR has remained very well supported over the past few sessions as the Dollar has continued to lose favour.
The one positive though, and one of which a lot of participants are banking on right now, is that the vaccination roll out is gaining some positive momentum, and if the EU can reach some of the targets it has set itself then we could see a faster recovery in the EU.
However, when we compare that potential recovery in terms of growth or inflation differentials, or compared that from a monetary policy normalization point of view, it will still be far behind that of the US and the UK, which is why we are staying patient with our view on the EUR for now, waiting for more information before we change our mind.
*This report reflects the COT data updated until 20 April 2021.
CADJPY testing 1st resistance, potential for reversal!Price is testing 1st resistance, which is in line with 78.6% Fibonacci retracement, 10% Fibonacci extension, horizontal swing high resistance and descending trendline resistance. We could potentially see a reversal at this level and further downside towards 1st support, in line with 61.8% Fibonacci retracement and horizontal overlap support. Stochastics is also reacting at the upper 83.71 level where it has reversed off before.
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CADJPY facing bearish pressure | 20 Apr 2021Prices are facing bearish pressure from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 127.2% Fibonacci extension . Prices might push down further to horizontal pullback support which is in line with 50% Fibonacci extension and 61.8% Fibonacci retracement . If prices push up further, prices might face resistance from 161.8% Fibonacci extension and 127.2% Fibonacci retracement . Stochastics is also facing resistance from 92.62 level, potential for push down of prices.
CADJPY facing bearish pressure | 20 Apr 2021Prices are facing bearish pressure from horizontal swing high resistance in line with 78.6% Fibonacci retracement and 127.2% Fibonacci extension. Prices might push down further to horizontal pullback support which is in line with 50% Fibonacci extension and 61.8% Fibonacci retracement. If prices push up further, prices might face resistance from 161.8% Fibonacci extension and 127.2% Fibonacci retracement. Stochastics is also facing resistance from 92.62 level, potential for push down of prices.
CADJPY facing bearish pressure | 16th Apr 2021Prices are facing bearish pressure from horizontal swing high resistance, in line with 78.6% Fibonacci retracement and 61.8% Fibonacci extension. Prices might push down towards horizontal swing low support, in line with 78.6% Fibonacci extension. If prices push higher, prices might face resistance from horizontal swing high resistance in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension. Stochastics is also facing resistance from 92.82 level, potential for pullback, in line with our analysis.
ANALYSIS ON CADJPYHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price is inside ASCENDING CHANNEL and also hit its TRENDLINE RESISTANCE. WAIT FOR THE BREAKOUT.
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing on-demand.
So let us know which pair you want our analysis on, and we will get it for you. Do like and follow us.
CADJPY facing bearish pressure | 13 Apr 2021CADJPY is facing bearish pressure from a tentative descending trendline resistance as well as horizontal swing high resistance. Prices might push down towards horizontal swing low support, in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement . If prices break past the swing high, prices might face resistance from 61.8% Fibonacci retracement and 50% Fibonacci extension . EMA is also above prices, showing a bearish pressure for prices.
CADJPY facing bearish pressure | 13 Apr 2021CADJPY is facing bearish pressure from a tentative descending trendline resistance as well as horizontal swing high resistance. Prices might push down towards horizontal swing low support, in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement. If prices break past the swing high, prices might face resistance from 61.8% Fibonacci retracement and 50% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
Armageddon cookingThis is authentic USD power.
Quick observation though...
On the scale of days, nothing has changed and CAD is still facing its big correction down to underdog level where USD and JPY are waiting for another leg of their journey to the center of the earth..
To be continued..
Let's indeed not jump up and down yet..
JPY is packing that worldscale depreciation, enough for the three leaders of the fx market..
Triangle crash imminent?
JPY pulling the leading triangle into scraps..
See the arrows drawn on the chart, visualising market forces.
USD wants to go up, but that little fresh authentic power (Biden propaganda ;) has never enough to avoid the traditional sequence of events..
Only this time on steroids..
JPY depreciation is freaking relentless, and we all know why. Unfortunately we can not let JPY crash alone because that would send UJ into oblivion and a wrong signal into the world. So..
Buckle up peeps..
Lots of peeps will have no freaking clue what happened. Some random piece of fundie will be made responsible for sure. One thing I can tell for sure atm, you don't want to be on the wrong side of it..
CADJPY Bear Run?Using the data at market closed is one of those gambles traders tend to enter when the banks close out PA at a juicy area where Traders are likely going to go with the obvious trading entry or to gamble against it with a small stop loss. I will be waiting for a few candles to close before considering and entry as long as my ratio is 3:1. I've analyzed this chart for Long and Short Opportunties.