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Cadjpytrade

CADJPY Dropping Nicely, Remain Bearish CADJPY has dropped from our selling area perfectly. We remain bearish expecting further downside pressure. Sell below 82.77. Stop loss at 83.48. Take profit at 81.29. Reason for the trading strategy (technically): Price has reversed perfectly from our selling area and is dropping nicely towards our profit target. We remain bearish below major resistance at 82.77 (Fibonacci retracement, Fibonacci extension, bearish harmonic formation, horizontal pullback resistance) for a further drop to major support at 81.29 (Fibonacci retracement, horizontal swing low support). We do have to cautious about intermediate support at 82.08 (Fibonacci retracement, horizontal overlap support) which price might bounce off before dropping further. We can also see a bullish ascending support line which needs to be broken to give us further downside confirmation. Stochastic (89,5,3) is seeing a nice drop after breaking its ascending support line with good downside potential.
by MEX_Exchange
2
CADJPY Testing Key Resistance, Time To SellCADJPY is right on major resistance presenting us with a good selling opportunity. Sell below 82.77. Stop loss at 83.48. Take profit at 81.29. Reason for the trading strategy (technically): Price is testing major resistance at 82.77 (Fibonacci retracement, horizontal overlap resistance, fiboancci extension, bearish harmonic formation) and a strong reaction could occur at this level to push prices down to major support at 81.29 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.
Short
by MEX_Exchange
1
CADJPY Approaching Major Resistance, Prepare To SellCADJPY is seeing some major resistance above price presenting us with a good opportunity to sell from. Sell below 82.77. Stop loss at 83.48. Take profit at 81.29. Reason for the trading strategy (technically): Price is approaching major resistance at 82.77 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, bearish harmonic formation) and a strong reaction could occur from here to push prices down to major support at 81.29 (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance below 98% where a corresponding reaction could occur.
Short
by MEX_Exchange
CADJPY Testing Major Support, Prepare For A BounceCADJPY is starting to show signs of a major reversal, time to start buying. Buy above 80.58. Stop loss at 79.60. Take profit at 83.46. Reason for the trading strategy (technically): Price is seeing major support above 80.58 (Fibonacci extension, major 2 year swing low, Elliott wave structure, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to 83.46 resistance (Fibonacci retracement, horizontal swing high resistance). Stochastic (89,5,3) is seeing major support above 1.4% where a corresponding bounce could occur. We’re also seeing bullish divergence vs price signalling that a bounce is impending.
Long
by MEX_Exchange
2
CADJPY testing major resistance, prepare to sellSell below 87.82. Stop loss at 88.38. Take profit at 86.47. Reason for the trading strategy (technically): Price is testing major resistance at 87.82 (Fibonacci retracement, horizontal pullback resistance, Fibonacci extension) and we expect to see a strong reaction off this level to push price further down to 86.47 support (Fibonacci extension, horizontal swing low support). Stochastic (21,5,3) is also approaching major resistance at 95% where a corresponding reaction could occur.
Short
by MEX_Exchange
CADJPY profit target reached perfectly, prepare for a reversalSell below 89.23. Stop loss at 89.75. Take profit at 87.83. Reason for the trading strategy (technically): Price has shot up and reached our profit target perfectly. We are now seeing major resistance at 89.23 (Channel exit potential, horizontal swing high resistance, Fibonacci retracement) and a drop could occur at this level to push price down to 87.83 (Fibonacci extension, horizontal swing low support). It’s important to keep an eye out on 88.48 as intermediate support. Stochastic (34,5,3) is seeing major resistance below 95% where a corresponding reaction could occur.
Short
by MEX_Exchange
1
CADJPY approaching major support, prepare to buyBuy above 88.49. Stop loss at 88.19. Take profit at 89.20. Reason for the trading strategy (technically): Price is approaching major pullback support at 88.49 (Fibonacci retracement, horizontal pullback support) and we are expecting price to test this level before bouncing off nicely to continue its bullish channel exit potential to 89.20 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance). RSI 934) is seeing a pullback to support level signalling that we could be seeing a bounce soon.
Long
by MEX_Exchange
CADJPY profit target reached perfectly, prepare to sellSell below 89.29. Stop loss at 89.46. Take profit at 88.88. Reason for the trading strategy (technically): Price has bounced up perfectly and reached our profit target. We prepare to sell on major resistance at 89.29 (Fibonacci retracement, major horizontal overlap resistance) for a strong reaction off this level to push price down to at least 88.88 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 95% and we expect a corresponding reaction off this level.
Short
by MEX_Exchange
2
CADJPY right on major support, prepare for a potential bounceCADJPY is seeing major support above 88.57 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur above this level to push price up to first major resistance at 89.55 (Fibonacci retracement, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above 1.9% where a bounce is occurring nicely and has good upside potential for our rise. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
CADJPY testing major support, prepare for a bounce!Buy above 88.52. Stop loss at 88.24. Take profit at 88.87 and 89.02. Reason for the trading strategy (technically): Price is testing major support at 88.52 (Horizontal swing low support, bullish price action, bullish harmonic formation) and we expect to see a nice bounce above this level to push price up to at least 88.87 (Fibonacci retracement, horizontal pullback support) before 89.02 (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support above 1% where we expect a corresponding bounce from.
Long
by MEX_Exchange
CADJPY has bounced perfectly, further potential upside expectedPrice has bounced up perfectly from our major support at 88.57 previously. Major support is now at 89.37 (Fibonacci retracement, horizontal pullback overlap support) and a potential bounce could occur from here pushing price further up to 90.37 resistance (Fibonacci retracement, Fibonacci extension). Stochastic (89,5,3) is seeing major support above 1.9% where a potential corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
1
CADJPY bouncing nicely, more bullish momentum expected!CADJPY has started to bounce off perfectly above our major support at 88.50 (61.8% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 90.37 resistance (61.8% Fibonacci retracement). We are seeing intermediate resistance at 89.65 (38.2% Fibonacci retracement) too. Stochastic (34,5,3) is starting to bounce nicely off our 2.2% support with great upside potential. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill