Cad-jpy
WTI, USOIL Downside Target for Jun Wk. 1Great RR sones, with stop losses wide well above levels that would stop out most over-leveraged robinhood monkeys. Great RR with downside potential that is on the same macro economic modeling that hedge funds based on the cyclical valuations summer demand supply on countering including the impact of COVID-19. Downside weekly target of 28 per barrell. The U.S. dollar was weak last week, but I suspect strength will be gained this week by the dollar. DXY
CADJPY iDEA :: There is a huge difference between Technical Analysis , System and an EDGE ;
You can't taste consistency by relying only on Technical Analysis ..
You can't either taste it by relying only on your System ..
You should have an Edge , which is a combination between Technical Analysis and a Trading System ;
Then, you use the Technical Analysis to study the markets well , and you use your System to ewecute your trades .
Personally , i execute my trades only when my system tell me to do so .
CADJPY AnalysisCADJPY appears to be in a short term uptrend on the 4HR. Price is now at the channels resistance and also quickly approaching weekly resistance. From here we could see some selling pressure and come down to test channel support. Selling at current levels could provide a day trade with nice r/r.
CADJPY LONG TRADEBullish wave (a) occurred after breaking downtrendline
then corrective bearish wave (b) rejected from 61.8% Fibonacci level of preceding bullish wave at 76.59
Price is supported above HVN at level 76.40 which indicates that pair is in accumulation phase
Above SMA 100
MACD shows weakness in bearish momentum
RSI broke downtrend
It's expected for coming strong bullish wave (c) to target upper edge of up- channel near level 78.80
CADJPY analysis | Potential tradeThe downward trend was broken last week.
We currently have higher bottoms and higher peaks.
This gives us reason to believe that the trend is reversed and we can see an increase.
Resistance levels
77.63
78.28
78.76
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CAD/JPY 4H false breakout!The situation on the CAD/JPY is not clear at the moment. The Resistance zone has recently undergone a serious test which was the 4th one so there is high possibility the next one is to be the break out of the current Resistance. There is no predisposition for the rapid rise , so the price will slowly move down.
Don't miss the great sell opportunity in CADJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (77.05). 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 43.
Take Profits:
TP1= @ 76.41
TP2= @ 75.70
TP3= @ 74.79
SL: Break Above R2
Don't miss the great sell opportunity in CADJPYTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (77.05). 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 43.
Take Profits:
TP1= @ 76.41
TP2= @ 75.70
TP3= @ 74.79
SL: Break Above R2
CADJPY appraoching resistance, potential reversal! | 20 May 2020Price is approaching our resistance in line with our 127.2% fibonacci retracement and 161.8% fibonacci extension where we could be seeing a reversal below this level to our first support level. Attached is the written version of the analysis so do check that out as well and let us know what you would like to see next!
Entry: 77.982
Stop Loss: 78.603
Take Profit: 76.506
CADJPY appraoching resistance, potential reversal! | 20 May 2020Price is approaching our resistance in line with our 127.2% fibonacci retracement and 161.8% fibonacci extension where we could be seeing a reversal below this level to our first support level . Attached is the video analysis so do check that out as well and let us know what you would like to see next!
Entry: 77.982
Stop Loss: 78.603
Take Profit: 76.506