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CADJPY

USDCAD-07/03/2023Preferred direction: SELL Comment: Despite the fact on Friday the downward impulse after breaking out the lower border of the balance did not take place, the priority of sell remains. However, the action plan has been slightly changed. The most potential sell should be considered at the upper border of the current balance, most likely in the format of a false breakout. An alternative scenario, also sell, can be considered at the lower border of the same balance, that is, in the format of a breakdown of the level of 1.32399. The target is still the same at the level of 1.31385. Thank you for like and share your views!
Short
by Viktor_strifor_analyst
3
CADJPY ____ INCOMING BEARISH MOVEHello Guys, As I had mentioned in my previous post on USDCAD (inserted below), CADJPY which is correlated to USDCAD is also at a very important supply region (weekly order block). My speculation is that CADJPY may continue some more inducements and manipulation on its way to the top before it begins selling. If you look left, you will notice the buy-side liquidity (equal highs) that the price may just spike above before selling or creating another equal high. You should put this pair under your radar as it has more potential to deliver on the short. Follow me for more updates like this. USDCAD ANALYSIS Cheers, Jabari
Short
by jabariofafrica
3
TARGET CAD/JPY Reached at 106.00 - What's next?Ascending Triangle formed on CAD/JPY, price broke out and it was a slow consolidation move. But then one week, we had strong buying and demand for the currency pair which shot it up to the Order Block. We had other indicators confirming its upside including: 7>21 Price<200 RSI>50 The target at 106.00 hit and the price continued to move up. I guess it's a market environment for trend and channel traders right now. And until there is a sideways consolidation, I'll wait for the next setup.
Long
by Timonrosso
1