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Cadjpysetup

CADJPY BUYSHello traders, trust y’all are having a great week, let’s talk about CJ we are Currently having A Head and Shoulder Chart Pattern And we all knows what it means and what prices is actually saying so not much to say let’s wait for price to retest zone 98.754 for a Shoulder to be formed then we can start seeing a bullish continuation pips target for this trade is about 170 pips, price target is 100.550 tell me what you guys think about this trade thanks
Long
by GoCrazyfx0
CADJPY : Current Situation & Technical , Fundamental View#CADJPY - CADJPY is currently selling after a STRUCTURE BREAK because the current MARKET SENTIMENT is NEUTRAL. Somehow, JPY is becoming somewhat STRONG. Similarly, the YEILD given by the BOJ to JP10Y increased, making the JPY STRONG. - The reason for that is because the Central Bank of Japan did not intervene in the long term to strengthen the JPY, they are strengthening the JPY in other ways without raising the rate. Meanwhile, the price of OIL has gone down a bit, so the CAD has become very weak in the last few days. Anyway, as expected in the BOC RATE DECISION the other day, the RATE HIKE was done. - But somehow the CANADIAN CENTRAL BANK has become HAWKISH. Therefore, CADJPY should definitely be slightly UP until the 105.00 LEVEL. Before that, there is definitely a very high possibility to sell to 98.78 LEVEL. So FOLLOW STRUCTURES. If JPY becomes strong, it can sell at 93.01 level.
by benny_marshall
CADJPY PLAN!Hello traders around the world! I want to talk about CADJPY and what I'm planning on this pair for this week. First of all, If you go back to the weekly chart, you can clearly see that the price reached a mass psychological level since Dec 2014 (106.501). On Monday 18 Apr 2022 the price started to create an ascending channel till Monday 07 Nov 2022 reaching the mass psychological level since Dec 2014 (106.501). The price broke to the downside impulsively and might be currently forming a bearish correction. Now, moving to the 4H Timeframe, we have two rejection lines: 1st one: 101.204 2nd one: 100.863 We can also draw an upper trend line If we connect these previous two prices & we can see that the current price is just under the upper TL. I am currently looking for a reversal pattern on the 1H chart for a short position. I am also considering the rejection lines as mentioned before. Patience is key. #THEPRIMES
Short
by alex_k_95
20 Reason for Buy CADJPY🔆 MULTI-TIME FRAME TOP-DOWN ANALYSIS OVERVIEW ☀️ ✨ Eagle Eye: On the yearly chart, the price has been consolidating within a range since 2008. After a 3-year bullish momentum, the price is currently forming a yearly inside bar. This indicates a potential trend reversal and demands close attention. 📆 Monthly: Following a valid change of character, the price has mitigated the monthly FVG with a significant liquidity sweep, as demonstrated by the monthly hammer. As a result, expectations are bullish for the upcoming monthly sessions. 📅 Weekly: The FVG has already been mitigated, and over the last two weeks, the price has shown strong reversal signs, indicating a potential trend shift. 🕛 Daily: After forming a daily high, the price has filled our FVG and formed a narrow range and inside bar. We can anticipate a buy entry at the initial breakout. 😇 7 DIMENSION ANALYSIS 🟢 Analysis Time Frame: Daily 1 Price Structure: The bearish momentum has been halted. 2 Pattern Candle Chart: The price has formed a double bottom, inside bar, and narrow range pattern, which indicates a potential reversal. 3 Volume: No significant volume has been observed during the correction, which favors the bulls. 4 Momentum UNCONVENTIONAL Rsi: The RSI has shifted from bearish to sideways, indicating a potential trend change. 5 Volatility Measure Bollinger Bands: The middle band is providing support, indicating potential bullish momentum. 6 Strength ADX: The ADX indicates that the price is currently in a sideways trend, and further confirmation is required. 7 Sentiment ROC: The CAD is stronger than the JPY this week, indicating a potential bullish momentum. ✔️ Entry Time Frame: H4 12. Entry TF Structure: Bullish engulfing pattern. Entry Move: Impulsive. Support Resistance Base: CIP support level. FIB: Trigger event has already occurred, and a trend line breakout has been confirmed. ☑️ Final Comments: Buy at the open low. 16. 💡 Decision: Buy. 🚀 Entry: 97.864. ✋ Stop Loss: 97.358. 🎯 Take Profit: 100. 😊 Risk to Reward Ratio: 1:4. 🕛 Expected Duration: 10 days.
Long
by Optimum369
CADJPY : Current Situation & Technical , Fundamental View#CADJPY - CADJPY is currently selling after a STRUCTURE BREAK because the current MARKET SENTIMENT is NEUTRAL. Somehow, JPY is becoming somewhat STRONG. Similarly, the YEILD given by the BOJ to JP10Y increased, making the JPY STRONG. - The reason for that is because the Central Bank of Japan did not intervene in the long term to strengthen the JPY, they are strengthening the JPY in other ways without raising the rate. Meanwhile, the price of OIL has gone down a bit, so the CAD has become very weak in the last few days. Anyway, as expected in the BOC RATE DECISION the other day, the RATE HIKE was done. - But somehow the CANADIAN CENTRAL BANK has become HAWKISH. Therefore, CADJPY should definitely be slightly UP until the 103.110 LEVEL. Before that, there is a very high possibility of selling to the 93.00 level. So FOLLOW STRUCTURES. If JPY becomes strong, it can sell at 93.01 level.
by benny_marshall