Cadjpytrade
Pending Order of CADJPY SHORTPotential CADJPY SHORT based on Daily and 4H chart. Price seems to breach the Daily and 4H seller zone and has strong selling momentum.
It is a pending order, once price goes below the low of the previous 4H candle. It will trigger.
Let's see how it goes.
CADJPY Short 4H chartHi traders,
We are going to wait for a break of the trendline after a triple top has been created with a final exhaustion move. After the price, I suggest going short with half position as I'd like to wait for a break of the strong zone that has been drawn with a light blue rectangle. Once this is broken with a momentum candle, I will go short.
There was a long uptrend before so I suspect a strong push to the downside after the price has consolidated for a longer time.
As always, please be patient and wait for confirmation!
CADJPY Sell The TopCADJPY has been hovering around the same resistance area for a week now trading very side ways. Failing to break this resistance for such a long time basically proves that big money feels that CADJPY is already price high and they see the current area at the max. Why it hasn't go down yet? Well maybe the big money doubts the YEN a bit... but it also doubts the CAD against the JPY since the price is stuck for over a week. Most likely CADJPY will fall hard as the slightest bit of JPY news. first targets are 87 and 84 after that. So lots of potential in shorting CADJPY!!
TP: 87 > 84
SL: 89,70
Long CADJPY after inverted head and shoulder neckline break BUY CADJPY , after breaking the neckline for the inverted head and shoulders , targeting 101.00 .
in case in reversal from current area around 89.00 , we will wait for 85.00 to buy from there for 89.00 first then second target at 101.00 .
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.
CAD/JPY - 200+ Pips OpportunityCAD/JPY 0.31% is most possibly in a reversal mode at the moment being.
In the shorter term charts, we can see the convergence divergence with the MACD , with prices moving higher yet MACD making lower lows.
If this resistance holds then we can expect CAD/JPY 0.31% to go down at least 200 pips.
Always trade with your own analysis as well as money manage properly.
Happy Trading!
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.
Possible push higherAs seen on the graph represented for you, the 2-hr ascending trend line has still been intact. Whenever it has broken a consolidation, it has allowed to push higher... then back to consolidation before any push higher.
Due to the recent events of the Bank Of Canada wherein it has applied a rate hike after years of keeping the rates intact, the Canadian Dollar has strongly pushed higher on several of its Forex pair despite the slow recovery of the Crude Oil (WTI and Brent).
CADJPYCADJPY for sell if breaks the trendline on daily chart u can sell from current point with Tight SL : 89.050 or wait for Break Trendline so CADJPY For Sell not for buy at the moment
CAD/JPY Buy OrderBuy CAD/JPY after a retracement/pullback as shown in the chart. Respect the Entry, StopLoss & Take Profit Zone . Hope, this will be a nice trade. :)
Going long on CADJPY after 61.8 retracement!!Price broke out of a downward channel on H4 on the 2nd of May so the price is most likely gonna continue pushing higher and higher till 84.200
Buy Limit order at 82.870, SL=82.72 and TP=83.80
-61.8 retracement to a base price area (Grey rectangle around 61.8 retracement)
-RSI heading towards oversold
-Broadening triangle
-Upward trendline most likely to hold
Risk to Reward looking so good.
15:93 (1 : 6.11)
Trade with care. Good luck.
CADJPY 1H TECHNICAL ANALYSISBuy this pair at current level and book profit at 82.46.
get out at 81.20
CadJpy Range Break Hybrid SetupDrawing channels and resistance levels on CadJpy shows a very interesting setup.
CadJpy has been trading inside this channel since february and so far every wave that tried to break the upper range was followed by a strong bearish wave that kept the decending channel intact.
Stoch Rsi shows that theres enough fire power left for a possible upwards break. However when looking back we see that at this area the Stoch Rsi all of sudden made a bearish cross-over numerous times. The Adx indicator also still shows that a bearish trend is a bit stronger then Bullish
How To Trade
Wait patiently till either a break of the upper channel or the small lower channel.
A break of the small lower channel will lead to a wave down towards that big lower channel.
This sell can have a take profit set at around 79.55
A break of the upper channel which has been failed to break since february will be the start of a strong bullish wave, possible take profits are 84,78 and 87.36 long term.
Stop-loss: When buy set a stop-loss 20 pips below the small lower channel. When sellling set a stop-loss 20 pips above the upper channel.
CADJPY Consolidation Coming to an End?The CADJPY isn’t something I trade often. But recent price action suggests the pair could be in the early stages of the next leg higher. And with the right amount of patience, the technical structure that’s been forming since mid-February could offer an attractive entry.
The pattern I’m referring to is the descending channel that extends from the February 15th high. Buyers have already tested the upper boundary of the channel twice and seem intent on having a third go at the 83.50 area.
Additionally, the CADJPY bounced from a significant area last week. The 82.00 handle has been a key factor since April of last year and is also the 50% retracement of the 2016 range that spans 1,410 pips between 74.81 and 88.91.
From here I’ll be on the lookout for a daily close above channel resistance near 83.50. If it happens, I’ll then need to see bullish price action on a retest of the area as new support.
The next key resistance would come in at 84.60. The level has served as a pivot since December of last year and is also the 38.2% Fibonacci retracement from the 2016 high to the current 2017 low. A close above 84.60 would expose 85.45 followed by 86.25.
But nothing is confirmed until buyers manage a daily close above channel resistance. Also, keep in mind that we have the Bank of Canada rate decision and statement this Wednesday at 10 am EST.
With this in mind, I’ll wait for the event to pass before considering an entry here.
CADJPY D TECHNICAL ANALYSISDescending channel is about to be broken. The pair will fall down to 80 in coming days. We post more charts on lower time frame to further elaborate the idea.
