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Cadjpylong

CADJPY Long playWe are seeing an opportunity to profit from an awesome trade that has a lot of probabilities to play out both fundamentally and technically. Fundamentals are looking solid not only because this is a positive carry trade, but also because Central Banks have shown recently this week completely oposite views on how they expect their currencies to perform in the near future. On the One hand the Bank of Canada released a statement where they did cut down their QE program and it was clearly stated that they are planning on raising interest in the near future : "We expect inflation to ease back toward 2 percent in the second half of this year and fall further due to the excess capacity in the economy." On the other hand we have a very dovish Bank of Japan that is willing to do whatever it takes to lower its currency: For the time being, the Bank will closely monitor the impact of the novel coronavirus (COVID19) and will not hesitate to take additional easing measures if necessary, and also it expects short- and long-term policy interest rates to remain at their present or lower levels. Very good. On the technical side we have an already bullish trend in place. We currently got a rejection from the Daily 50 EMA after an ABC correction. On the intraday however, we have got an overextended run that occurred after the initial news releases. Since we may get a "buy the rumor, sell the fact" kind of effect on the CAD monetary policy, I am looking for the cad to create a proper pullback on the 4H chart that will give us an entry to get long and ride this move higher. Potential targets for me will be the next fibonacci extensions. Trade would be managed accordingly depending on how price reacts to those levels.
Long
by Murci
5
CADJPY long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
CAD/JPY BUY IDEAHey tradomaniacs, welcome to another free trading-setup. Notice: This is meant to be a preparation for you. As always we will have to waot for a confirmation! CAD/JPY: Day-Swingtrade-Preparation Yesterday we`ve seen the first step towards a tighter monetary policy when the Bank of Canada announced it will lower its quantative easing and so the liquidity they provide to the market as the economy improved way better than expected. Additionally, there were hints about upcoming rate-hikes, which is why the Canadian Dollar pumped very hard. Market-Buy: 86.590 Stop-Loss: 86.100 Point of Risk-Reduction: 87.115 Take-Profit: 88.130 Stop-Loss: 49 pips Risk: 0,5% -1% Risk-Reward: 3,0 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
Long
by Trading2ez
4
** CAD JPY ** Current open buy tradeMorning update of today's open trades. The entry price, stop loss (in pipettes) and take profit are shown on the chart itself. Just something I'm working on in Pine script, I'll share as many trading ideas as and when I can, so I can document my progress. My name is Al, I'm 40 and from the UK. I've been trading for a few years, my key goal is to automate my strategies and remove as many decisions as I can. Any questions, feel free to drop me a direct message if I can help. These ideas, aren't specific advice from me - so if you enter, of course do your own due diligence - always manage your risk like a pro too. This is all for information and education. Have a great day, Al. 🙂 PS. Check my other 'Related Ideas' too.
Long
by AL-1-
CADJPY - Bullish BiasCAD - BULLISH 1️⃣ WTI crude futures rose as much as 2% to $60.6 per barrel on Thursday. 2️⃣ Canadian manufacturing PMI for March is expected to jump as sentiment regarding production over the next 12 months remained upbeat. JPY - BEARISH 1️⃣ Industrial output in Japan fell 2.1% mom in February, worse than expected. 2️⃣ Japan's housing starts dropped by 3.7% yoy in the month, the 20th straight month of fall. ===== Technical ===== We are looking to buy the CADJPY at support + above SMA 50 on the H1 chart. ===== Risk to this trade ===== Any change in sentiment could turn the pair's direction.
Long
by MonsunAsia
CAD/JPY BUY IDEAHey tradomaniacs, welcome to another 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 Market-Buy: 86.800 Stop-Loss: 86.050 Point of Risk-Reduction: 87.460 Take-Profit: 88.845 Stop-Loss: 75 pips Risk: 0,5%-1% Risk-Reward: 2,80 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me
Long
by Trading2ez
5