Cadjpyforecast
CADJPY H4 LONG PRICE ACTION FORECAST After a deep correction suffered by this pair, price action was able to find rejection from the ascending trendline, in confluence with the Fib level 5.0 from the realm of D1.
Now in a closer look from H4 price, maybe currently forming a bearish pin bar signaling rejection from buyers, the bullishness in the pair could be confirmed by the MACD divergence and diminished bearish momentum about to create a buy signal.
If price continues its uptrend bias, a buy-stop entry could be placed, with the following features:
The order:
Type: buy-stop.
S/L: 59 pips - R:R | 1:2.5
T/P: previous top from a kind of right shoulder.
CADJPY H4 LONG PRICE ACTION FORECAST -UPDATE-As price action didn't trigger the buy-stop order, it somehow managed to break the fundamental support level for its bearishness continuation. A short entry is played.
Short entry as sell-stop order with the entry price few pips bellow the fundamental support level (neck)
Price in downtrend
The order:
Type: sell-stop.
S/L: 70 pips - R:R | 1:2 -
T/P: aiming to confluence zone.
CADJPY H4 LONG PRICE ACTION FORECASTWith the price action in consolidation bouncing from a strong support level, not only in H4 but also against the Fibonacci level 50 from D1, we could expect a bullish breakout.
To capture this uptrend continuation, a long entry is placed as a buy-stop, with an E/L that allows enough buffer for price action to move with freedom.
Although the long setup is forecasted, a bearishness pressure is hovering the pair. MACD is showing a strong diminished bullish bias, that may bring the price action to break the consolidation area for a renewed bearish momentum.
Price in consolidation.
The order:
Type: buy-stop.
S/L: 65 pips - R:R | 1:2 -
T/P: aiming to previous high
Simple & Profitable Strategy for a Sell Opportunity on CADJPYTrade Idea:
This pair is in an overall downtrend, so my bias is favouring sells than buys. I'm looking for a break of the yellow trend line (Conservative Entry) and/or a retest of the orange RSI trendline (Aggressive Entry) to enter a sell towards the projected TPs.
Technical Analysis:
* This pair has break the short-term support now resistance zone, and its now retesting the S/R zone.
* Price has a slight bounce from the 200EMA and EMA14/21 is acting as resistance.
* A bearish rejection candle confirming my bias and rejecting from the short term S/R zone.
* RSI 14 (hlc3) has broken the upward trend line and is retesting that trend line, the RSI 14 is also below 50, indicating that sellers are gradually taking over for this pair.
*Please note that any trades you decided to take are of your own risk. All trade ideas published here are for informational purposes only and are my personal trades.
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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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Dr. Lydia Smith
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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💡 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.
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