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Cad-jpy

CADJPY will retest the support? 🦐CADJPY after our last analysis broke the range and created an impulse untile the 83.700 level over a daily structure. The price is close to the upper trendline of the channel and according to Plancton's strategy, if the market will retest the support and give us a sign of inversion we can set a nice long position. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
8
💡 Don't miss the great sell opportunity in CADJPYTrading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (83.55). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . CADJPY is in a range bound and the beginning of downtrend is expected. .The price is above the 21-Day WEMA which acts as a dynamic support. . The RSI is at 50. Take Profits: TP1= @ 83.10 TP2= @ 82.70 TP3= @ 82.30 TP4= @ 81.70 TP5= @ 81.00 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader? Now, It's your turn! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_World
16
CADJPY: SELL We see major potential for SELLS on CADJPY, however, do keep in mind that we expect this pair to also be quite Bullish into next month or April 2021. Drawing out two scenarios on our analysis here: we are hoping for Scenario 1 this week (but we will see). If you would like to enter a SELL at 84.551 , expect to exit (TP) around 81.543 (which was a previous level of support). However, this pair may move within that range drawn out in Scenario 2. So keep an eye on this one.
Short
by cupofconfidence
CADJPY on a range break 🦐CADJPY after the last bullish impulse started a range move between 2 structures. The price now approaches the upper structure and according to Plancton's strategy, if the price will break above, we can set a nice long order. ––––– Follow the Shrimp Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
10
AUD Long, CAD or JPY ShortThe AUD basket has completed a nice pullback to the existing trendline off of the March and October swing lows on the Daily chart. The Aussie Dollar also bounced here at the 50 day SMA. There's a little bit of room to the previous high, and I expect the next area of resistance to be in the 0.8 area. Looking at this chart, I will be looking for a long opportunity with AUD. Now, what to pair it with... JPY has been weak, making a nice break down. However, there's a fairly nearby area of support that the JPY could reach in a day or two. A good option to short, but there may be better options out there. I also like the CAD. Has been creating a descending wedge pattern going back to October. CAD recently touched the top of the wedge and was rejected. Furthermore, this wedge has been at the bottom of a sharp drop from the COVID-19 movement back in February/March 2020. Definitely looking short CAD here. Although I like CAD to the downside based on the previous charts, let's take a look at CADJPY to see which has been weaker. The pair recently broke the resistance at 81.7-81.8, and has been trending up on the daily chart. This chart definitely suggests JPY has been weaker than the Canadian Dollar. So, let's look at these pairings. AUDCAD looks fairly close to the overall AUD basket. Bouncing off of a trendline, off of the 50 day SMA, and coming back to the middle of the Bollinger Bands. AUDJPY, on the other hand, doesn't have quite the same setup. It had a huge day on 5/2, and is up at previous resistance. This resistance level around 80.86 was touched mid-January, April 2019, and served as a minor support in mid-2018. So, here's what we have. We like the AUD to the upside, especially if equity markets remain strong this week. CAD and JPY both have potential for weakness. CAD is near the top of a descending wedge pattern, while JPY has shown recent weakness. Looking at CADJPY, JPY has definitely been weaker. AUDCAD has a good setup, while AUDJPY is currently at a resistance level So, what do we do with all of this information? I will be looking for setups on both AUDJPY and AUDCAD. Let's start with AUDCAD. AUDCAD Daily chart had a nice move up on the last trading day (5/2). It broke through that swing low made around the 20th of January. On the 4H chart, it has made its first higher low and currently rests at the 200-period SMA. I will be looking for a break of that Moving Average, and enter on a pullback. Ideally, I will be looking for a pullback to retest the Moving Average or trend line, but we will see what happens. I will be looking primarily at the 4H chart for entries as this trade may have room to go, but will also check in with the 1H chart. I will update with any entries I take. The CAD has a fair amount of room to fall to hit the bottom of the wedge pattern, so this gives us a little space. AUDJPY Although the JPY has been weaker, I don't like this setup as much. I will wait for a break of the resistance where it currently is. Should we break this level, I will wait for a pullback to enter. I will be looking at the 1h and 4h charts for entries should this happen.
Long
by MRobertsTrading
1
CADJPY: The price back to its MAIN TRENDLINE?Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis 📈 and Trading Tips 📉, support the idea hitting the LIKE 👍 button and don't forget to SUBSCRIBE ✔️ my channel, you won't miss anything ! 🟢 Forex Pair : CAD/JPY ⚪ Technical Analysis : Since January 2021, the price has been bouncing many times between two S/R level, one at about 82.100 and another one at about 81.000. On the 28th of January, the price reached also the main trendline, getting an interesting quick rejection, pushing the price up until the resistance zone. During the last daily session, the price attempted to break through it, failing and showing a sign of weakness and uncertainty. 🔴 Conclusion : I'm confident to see a possibility to re-test the main trendline, few pinbars on the h4 chart could be a sign of inversion. I'll be waiting for the next few candles to confirm my analysis and then I'll plan my short position on this trade. I highly suggest to do not open any position right now! Stay tuned for Updates and Trading Signals ! What's your opinion? Share your idea writing a comment! ⚠️ Please note the views are not investment advice and should be used only for educational purposes ⚠️ Trade Safe and Responsibly , Gianni
Short
by FXtrades-gp
9
CADJPY on a double top? 🦐CADJPY after testing twice the weekly resistance area reached the support area. According to Plancton's strategy, if the conditions will be satisfied we can set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
8