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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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$CADJPY Short against Weekly Close of 78.00With this weekly close below the EMA9, the CADJPY continues to test a firm resistance and retreat. The $CADJPY is looking like a Short against Weekly Close of 78.00 for a test of the low at 73.00. The current price is at 76.68, which would provide a good risk to reward for this pair. Only weekly close above the weekly high of 78.00 would negate this pair's bearish pattern.
My analysis is not to be taken as final target or exact numbers, but as an exchange rates heat map of where sentiment and expectations are going. Take profit when you feel necessary or cut your losses.
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POTENTIAL SELL OFF ON CADJPY TO COME Price is currently moving bullish in what i would see as a retracement. I will be looking out for price to move up to our marked entry level of resistance. From this point, price has the potential to move bearish to our take profit levels.
Stop loss. Entry and take profit level have been marked. Do not risk more than 2% on this trade
CADJPY Breakout Rejection - Consolidation In Short Term. SELLCADJPY's attempt at making a breakout above the 76.800 level seems to have lost strength, and I see it now consolidating in a narrow range between 76.800 and 76.650 levels in the short term. A clear trend maybe seen after getting out of this consolidation range, but right now, I will look at going short in this pair since the breakout attempt seems to have been rejected. I would set my take-profit level at 76.650 level, which is not much, but since this is the consolidation range, we cannot expect a very high take-profit range anyway.
CADJPY technically based forecast
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I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas
💡 CADJPY technicaly based idea, we can see price is bounce from bottom trend line, technicaly indicators showing we can expect recovery phase, expecting to see push up in price till top trend line. JPY today slowly losing power.
📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment!
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POTENTIAL BEARISH MOVE ON CADJPY TO COME Price is currently in what i would class as a bullish retracement. i am looking for price to test the marked point of resistance before advancing lower. Stop loss marked at the red price level and take profit marked at the green price level.
DO NOT risk more an 2%
CADJPY - Bullish Breakout With Re-test Complete | Buy📢CADCHF 15m - Technical Breakdown
📈Price action has successfully broken through the clear down-trend and has since re-tested this prior resistance.
📈A long opportunity from the current market price presents a 1:2.5 RR trade aiming to bank 60 pips up to the highlighted take profit near 76.500
CADJPY technically forecast on next move
📌Short intro:
I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas
💡 CADJPY technicaly based idea, what we can expect here if you go bearish on CADJPY the best will be to wait break of supp trend line for confirmation of bearish continuation. If you want to go bulish, the best will be to wait break of up trend line (green line) for better confirmation of bulish trend.
📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment!
Thanks on supporting!
All best, good luck!
CADJPY technicaly based forecast
📌Short intro:
I am full time trader - analyst * High accuracy of ideas * Technicaly and Fudnamentaly side in analysis * Comment if have any questions or want to send support * Price action - FIBO - Candl pattern * FX - STOCK - CRYPTO * Simple ideas
💡 CADJPY technicaly based idea, we can see price is bounce from trend line, expecting to see push down in price till support (yellow line). CAD one of weakest currencys today.
📌Have on mind, trading involves risk, check idea on your own tactic, if have questions pls comment!
Thanks on supporting!
All best, good luck!
CADJPY TP1 77.20, TP2 77.65HI, TRADERS
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