Cad-jpy
CADJPY Looking to go down !! 100pips!!By now, if you've been paying attention to my previous analysis, you know i always prefer continuation over breakouts! I just think its safer for entries! This pair is a great example! Price just touched a multi year trend line dating back to 2015! I'm in for the SELL for sure, 83.00 could be my final target because of the new up-trend that formed since aug'19 ! A small SL as always and lets go!
What do you think? Le me know in the coments!!
Canadian dollar vs Japanese YenThe pair will continue moving higher in the following days after it bounced back from an uptrend channel support line. Japan’s economy is expected to gain from the $121 billion stimulus package introduced by the government to stir the economy. In December, PM Abe’s cabinet approved a quantitative easing (QE) policy as fears of recession creeps industrialized and emerging economies. Japan is one (1) of the only four (4) countries with a negative interest rate. The numbers are expected to shrink as Sweden announces its plan to leave the negative territory. Pushing Japan’s interest rate lower will hurt the economy in the future. This leaves the country with QE as the remaining tool to prevent recession. On the other hand, Canada will regain its former glory and become the eighth largest economy in the world. This was according to Cebr’s World Economic League Table 2020, which predicted Canada to reach the spot this decade.
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.