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Cadjpytrade

CADJPYThe Canadian dollar went back and forth over last week as we continue to hang about the ¥92 level. The market will follow oil, as it typically does over the longer term. For what it is worth, the oil market looks as if it is ready to go higher, so it will be interesting to see how this plays out. The Bank of Canada has also suggested during last week that an interest rate hike is coming much sooner than anticipated, and that could continue to favor the Loonie over the Japanese yen.
Short
by SmoothJB
CADJPY Analysis and Trade IdeaCADJPY has entered my POI. I am now waiting for it give indications of a reversal, so I may find a valid short. If price stay strong, making the HH even higher, I wait. Patiently. It will pull back at some point, to make the HL. This is dictated by HTF market structure. I wait, patiently, for confirmations. No confirmations, no trade. NOTE: I didn't mention it in the video, but CAD gas CPI news on Wednesday. Banks may look to take profits and send the market to move unpredictably. Be very careful trading this pair with the news looming.
Short
by RT_Money
4
CADJPY Short! Price Action AnalysisPrice is currently trading within Caption zone/s that last saw Tests for rejection to the downside in October-November of 2015. For price to experience the anticipated drop, CAD has to weaken and JPY has to strengthen inclusive of fundamentals. Bearish pattern signs have initialized on smaller time frames with rejection at 92.545, which is the beginning of a Caption zone that extends through 94.745. Note: Idea is to complement your research. Check comments section for future updates on idea. Like this idea? Like, Share, Comment, Follow, (...) Thank you, Happy Trading.
Short
by legacyliked
CADJPY ShortMy view of CADJPY . Potential short opportunity. This will be plain and simple. From Sep. 28th to Sep. 30th we respected the MRA (Major Resistance Area) . Although the price tried to break out of the Consolidation area , the sellers prevailed. SO! Looking at the fact we are in a Consolidation area, I expect the price to go down to our MSA (Major Support Area) . Entry is at 87.821 with a Stop Loss above the MRA and Consolidation area at 88.794 . Take profit is at MSA (85.075) . Break of mSA (minor Support Area) would confirm lower levels and continuing the move down to our Take Profit. I also made an example showing 2 possible outcomes if we break to the upside or downside. PARAMETERS - Entry: 87.821 - SL: 88.794 - TP: 85.075 KEY NOTES - Sep. 28th to Sep. 30th we respected the MRA (Major Resistance Area) . - If we break the Consolidation area at our SL , it would confirm higher levels. - Break of mSA (minor Support Area) would confirm lower levels and continuing the move down to our Take Profit . Happy trading!
Short
by BANDZTRADES
5