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CADJPY

CADJPY: Looking to retest ascending trendline & order blockPrice Action is suggesting that CADJPY will continue it's move up to again retest the ascending dynamic trendline that it's been bouncing around since the end of last year. Looking at CADWCU and JPYWCU, CAD is looking bullish to me with a pinbar on the 1D time-frame, JPYWCU on the other hand has broken an ascending trendline (1D) to the downside and has just posted a bearish engulfing candle. I'm positive about JPY long-term because of the way they've handled their economy, limiting inflation without interest rate hikes, and maximising exports (due to the low currency value). We're just not yet seeing the impact of this, due to the higher interest rates that can be earned with other currencies. I'm looking to get in long when I see confirmation on the LTF's, this may mean CADJPY could drop a little with an initial retracement (maybe down to 97.2), this would of course generate a better RR.
Long
by Finchcliffe
CADJPY Longterm uptrendInstrument: CADJPY Chart pattern: Longterm uptrend Optimal technical indicator: RSI DYN 14 EMA 20 Current signal of optimal tech indicator: LONG Optimal technical indicator win-rate: 46% Days for backtesting: 2231 Timeframe for backtesting: 1D Price at the time of forecast: 96,7900 Enter point: 96,7900 Take-profit: on chart Stop-loss: on chart Current model trailing stop-loss: 95,5264 Multiple for stop-loss strategy in model: ATR(14) x 1 Average trades per month with optimum technical indicator: 4 Average time for 1 trade with optimum technical indicator: 6 Average profit per 1 trade: 0,14% Projected annual return w/o leverage: 8,9% Technical analysis applicability for 3325 technical strategies: 63% Technical analysis recommendations: Long: 32% Short: 62% Neutral: 6% Stable long-term profit for FOREX, CRYPTO, Equity based on backtesting optimization algorithm. Instant analysis of 3.3K technical strategies
Long
by Trading_investing_2021
CADJPY : Current Situation & Technical , Fundamental View#CADJPY - CADJPY is currently selling after a STRUCTURE BREAK because the current MARKET SENTIMENT is NEUTRAL. Somehow, JPY is becoming somewhat STRONG. Similarly, the YEILD given by the BOJ to JP10Y increased, making the JPY STRONG. The reason for that is because the Bank of Japan did not intervene in the long term to strengthen the JPY, they are strengthening the JPY in other ways without raising the rate. Meanwhile, the price of OIL has gone down a bit, so the CAD has become very weak in the last few days. Anyway, as expected in the BOC RATE DECISION the other day, the RATE HIKE was done. - But somehow the CANADIAN CENTRAL BANK has become HAWKISH. Therefore, CADJPY should definitely be slightly UP until the 103.110 LEVEL. Before that, there is definitely a very high possibility to sell to 96.33 LEVEL. So FOLLOW STRUCTURES.
by benny_marshall
CADJPY COT STUDY: MORE DOWNSIDE UNTIL 90 ?COT: - Non-Commercial Positions as of 28-1-23 - JPY inverted (down = less shorts) COT JPY (YELLOW): - Moving less short since mid OCT-22 - JPY COT dictates CADJPY price since mid OCT COT CAD (PURPLE): - CAD moving more short since AUG-22 - CAD sideways since begin JAN-23 - Early indication that CAD is recovering from weakness across the board? TARGETS: - Looking for some ranging up (100 ?) - Followed by impulse lower to 90 - Quarterly Pivot to Quarterly S1 would be nice
Short
by xtrader1