CADJPY LIVE ANALYSIS 07/03/2021We are expecting a drop down to our support region around 85.007, then we take a nice long position for about a 145pips
NB: Risk management highly adviced.
Cadjpynews
CADJPY HARMONIC PATTERN COMBO:CADJPY HARMONIC PATTERN COMBO:
With the JPY getting strength, FX:CADJPY may fall to that level.
CAD/JPY 1H Chart: Channel UpCAD/JPY 1H Chart: Channel Up
The Canadian Dollar is recovering against the Japanese Yen in a short-term ascending channel that expectedly started to form as soon as the preceding downtrend has changed. By the moment, it already consists of four confirmation points and might be broken in the present week.
Given that that the 100-hour SMA and the updated weekly PP at 87.24 have formed a combined support barrier, it is unlikely that that currency pair will manage to break to the south. This probability increases even more, taking into account that the channel’s bottom boundary is also secured by the 200-hour SMA.
The opposite side, in contrast, has an absolutely free area up until the weekly R1 at 88.15 and the monthly PP at 88.18.Thus, the surge is expected to continue at least until that resistance level.
Watch out for this pair!As this pair has closed with a bearish candle, this pair is still on consolidation mode just right at the monthly's inverse Head & Shoulders.
Despite the bullish stance the Japanese Yen is delivering to the market in addition to the bearish stance Crude Oil is giving, the Loonie-Yen pair is still able to maintain its consolidation mode.
Whatever path it takes, the move will be huge.
Loonie up, Yen down?As shown on the graph representation, the CADJPY monthly time frame has formed an inverse H&S... and it is currently hovering at the neckline of the monthly inverse H&S! It's gonna be tough... but it's going to be interesting!
I currently have long CADJPY as seen on my previous analysis.
CADJPY @ 1h @ best cross-rate of all 21 majors (1st week `17)Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
21 Major Cross-Rates (of this 1st Week 2017) statistical data @ my GOOGLE Drive
drive.google.com
Best regards
Aaron
(CADJPY) Daily - Speculation and AnalysisWe have reached a strong support area, if it keep holding and we break a the yellow trend line its a good buy.
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CADJPY ON STERIOD Oil is good and Dandy :) and this will affect CADJPY - call me crazy - I took a long position from 83.613 and I am not getting out until 84.900 just to be safe;)
Enjoy!
