Cad-jpy
Trendline Trading This OneWe're just gonna do trendline trading this week with this pair. Here are the TPs for this pair.
BULL TPS:
• 83.320
• 83.598
• 83.592
• 83.984
Must break and retest last TP before I post more.
BEAR TPS:
• 82.923
• 82.753
If can breakthrough monthly SR…
• 82.479
• 82.239
Must break and retest last TP before I post more.
cad/jpypotential 60 pip short opportunity here on cad/jpy before looking to take more long positions on this pair but with the fundamentals at the minute the Yen being as strong as it is I believe we will see this pair fall to the 82.7 area. the low of the start of this channel it has broken out of.
risk accordingly good luck
CADJPY SELL [DAY TRADE] ENTRY 83.674
TP 83.323 ( pips 35 / RR 2.24 )
SL 83.831 ( pips 15.6 )
The trade alert was taken on a 30mins chart. Small SL to manage possible bullish breakout.
Bearish continuation pattern (black) failed. Price at DC resistance now.
161% TP lines up with DC support. ~ If you want to enter this trade, you can wait 9mins for the new 30mins candle... incase it breaks above DC then don't enter.
Market Optimism - CADJPY Moving HigherWith a "Phase I" trade deal between the US and China finally agreed upon, markets have continued to take on a "Risk On" mantra in recent sessions.
In fact, this can be seen in the $CADJPY pair, as the Canadian Dollar appears to be marching higher since the lows of August 2019.
On a technical basis, bulls continue to be in control, with prices still in a "Rising Channel" formation. To lend more support to this view, it also seems that an "Ascending Triangle" pattern has formed, coupled with a rising RSI.
If such market euphoria continues, we could see prices break higher through $83.64 (Green Trend Line) and make a run for $84.59 (Orange Weekly Resistance Line). However, if this recent bullish momentum fails, we could see prices fall back down to $82.41 level (Bottom of the Rising Channel).
CADJPY NEW UP TREND??CADJPY has entered a new up-trend last month and i really would like to see if they can hold it there! Right now this zone is looking very interesting, on a lower timeframe (1h/2h) looks bearish, but 4h still looking bullish! My opinion only. both scenarios that i'm looking for are explained in the image. i would much like to go with option A, if you ask me!
Leave your comment!! let me know what you think or if i miss something.