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Cadjpytrade

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
CADJPY on major support, prepare for a bounce! CADJPY is now testing major support at 88.50 (61.8% Fibonacci retracement, 61.8% Fiboancci 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 also seeing major support at 2.2% where multiple bounces occurred previously. A potential corresponding bounce could occur at this level too. 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 on major resistance!CADJPY is seeing major resistance at 89.75 (61.8% Fibonacci retracement, 78.6% Fibonacci retracement, 100% Fibonacci extension, horizontal overlap resistance) and a strong drop could occur at this level pushing price down to at least 88.52 support (Fibonacci retracement, horizontal overlap support). Stochastic (34,5,3) is seeing major resistance below 100% where it is dropping nicely from now. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
CADJPY Possibly Started Going Up AlreadyHi there, I see a smaller correction marked with green arrows. The last three daily candles show some strong move up and if this is the C wave, I believe that we could be seeing a completion of the regular flat soon. Looking at the bigger picture, if we go down from here, I could imagine seeing a further move down to complete the regular flat (marked in blue + orange arrows) and then the next impulsive move up. We will see how it develops. The more information I get on this chart, the easier it will be to understand what is going on. MisterRay
Long
by MisterRay
CAD/JPY = The House of SellersThis pair had been trying to rally past the daily resistance over the past few weeks but failed to do so. With confirmation from the tested resistance levels on Daily (Tested thrice), it is safe to assume that buyers are no longer in-charge to push this pair higher to to resume its bullish movement. Nonetheless, the pair had been going down ever since the incident aforementioned. As of indicated, the pair is rallying up and down in a box (Zone) between 89.860 - 89.420. If the price manage to break the weak support at 89.420, rest assured that this pair is going to bleed further down to our First Targeted Take Profit Level 1. Upon reaching the targeted take profit level 1. It's worth noted that the price action had to break the Level 1 zone before further pushing it to the level 2 zone as the Level 2 take profit zone is a near reflection of the Weekly Support level which gives us a huge idea on the pair's price action movement. However, let's not forget that the weekly candlesticks showed a superbly strong reversal signs which supported the Daily Bearish movement since 91.220. Way too go sellers ! Thus, here is my short rules as mentioned below Buy/Sell = Sell (Short) Pips: Potential of 3000+ pips run (If there is no rallies in between the downstream). Targeted TP Level: Level 1 (Safest). (Level 2 if Level 1 Breakout happened). Lot Sizing: Your prefer risk-reward settings. My risk management is in between 1 - 3 %. Confidence level: 1 - 10? (10 Max out). Technical or Fundamentals: Pure Technical. Fundamental will help push it down moar ! Have fun trading and let's profit together :)
Short
by maggedon
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.
by UnknownUnicorn890690