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Cadjpyidea

CADJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CADJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 50 - Dec 07 M > Market has respected downward resistance trend-line in past and price has approached the trend-line to test the same, current price level also coincides with monthly resistance. We can expect a rejection to the downside. W > Price has approached the monthly resistance for the 5th time since June 2020. It had dropped till 0.618 Fib level, creating a major support structure there. Will price make a drop to test that key support again? Yes it is possible in long term. D > Market has shown some volatile impulsive bullish moves with similar bearish moves. Price is now testing monthly resistance and we can expect rejection. As per COT CAD closed Long and further added Short positions, reducing net positions, however cumulative net position with N-R has improved. CXY strengthened during the said period and after testing monthly resistance it further gained strength last week and is now testing next resistance level. We can expect correction for CXY to the downside as strong bearish divergence can be seen. JPY again saw addition of major Long and some Short positions improving net positions to highest in this year. JXY however weakened during the said period and was indecisive last week ending in a Doji. We can expect strengthening of JPY this week. With expected weakness for CXY and strength for JXY we can expect drop for CADJPY this week. 4H > We can see loss of momentum currently with upper rejection wick. Market closed the week with rejection at current level however closure of 15 M candle was bullish. We will monitor price action on lower timeframes for a bearish direction and good risk to reward Short entry. Recommendation > Keep a watch for intraday gains volatile bearish and bullish moves. Pair Correlation > CADJPY has positive correlation with EURJPY and negative correlation with USDCAD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
CAD/JPY BUY IDEAHey tradomaniacs, welcome to a new free trading-setup. Note: This is meant to be a preparation for you. as always we will have to wait fora confirmation! CAD/JPY: Daytrade-Preparation Market-Buy: 80,940 Stop-Loss: 80,500 Target 1: 81,410 Target 2: 81,670 Target 3: 81,980 Stop-Loss: 44 pips Risk: 0,5% -1% Risk-Reward: 2,40 www.trading view.com/x/2ZVPeTmV/ LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
1
CADJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CADJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 46 - Nov 09 M > Market is moving in a downward channel. Price faced rejection at resistance level of trend-line creating double top and moved down. W > Price dropped to test weekly support and faced rejection. This support also coincided with 0.768 Fib level on weekly bullish impulse. Price dropped again to test this support and faced rejection. D > We saw an over extended M formation and as expected price moved upside to test its neck and complete the formation. Price continued to move further to the upside before turning bearish. As per COT CAD closed major Long and few Short positions, reducing net positions a bit further. CAD saw huge dump during the said period with price showing some sign of recovery during the later half, however it gained strength last week and is now testing weekly resistance. We can see bearish divergence for CXY and can expect correction soon. JPY saw addition of Long and closure of Short positions improving net positions. Commercials have added both Long and Short positions, bringing their Short positions to highest in current year, in effect increasing total open interest in JPY. JXY has been gaining strength and it further gained strength last week on account of weak USD. We can expect some correction for JPY in short term. 4H > We saw volatility due to instability in market but price has finally turned bearish and has just tested supply level as resistance before continuing with downward move. We can see a W formation and can expect price to drop till its neck at least. Pair Correlation > CADJPY has positive correlation with CHFJPY and EURJPY and negative correlation with USDCAD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
CADJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CADJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 45 - Nov 02 M > Market is moving in a downward channel. Price faced rejection at resistance level of trend-line creating double top and moved down. W > Price dropped to test weekly support and faced rejection. This support also coincided with 0.768 Fib level on weekly bullish impulse. Price dropped again to test this support and faced rejection. D > Price has created an over extended M formation and we can expect a pull to the upside to test its neck before continuing with bearish move. We can already see signs of trend reversal. As per COT CAD has not seen much movement for Long in last 2 weeks but it reported closure of Short positions. In fact N-R have more open Long positions than Institutions. CXY improved its position for the said week however it saw huge dump last week with price showing some sign of recovery end of the week. We can expect further recovery this week. JPY saw closure of Long and major Short positions improving net positions however N-R added major Long and few Short positions, improving cumulative net positions. Commercials have added both Long and Short positions, bringing their Short positions to highest in current year, in effect increasing total open interest in JPY. JXY improved its position during the said week and further improved it last week. 4H > We can see an inverted H & S pattern at weekly support and we also see bullish divergence, we can expect a move to the upside. Pair Correlation > CADJPY has positive correlation with EURJPY, CHFJPY and GBPJPY and negative correlation with USDCAD. Thank You AP17FX
Long
by AP17FX
1
CAD/JPY SELL IDEAHey tradomaniacs, welcome to a new free trading-setup. Notice: This is meant to be a preparation for you! As always we will have to wait for a confirmation! CAD/JPY: Day-Swingtrade-Preparation Notice: Aggressive manageent as we execute ahead opening! Markt-Sell: 79,925 Stop-Loss: 80,170 Target 1: 70,690 Target 2: 70,560 Target 3: 79,310 Target for One-Target-Trader: 70,560 Stop-Loss: 25 pips Risk: 0,5% - 1% Risk-Reward: 2,52 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
1