Japaneseyen
CADJPY: Classic Trend-Following Setup 🇨🇦🇯🇵
Hey traders,
CADJPY is trading in a long-term bullish trend.
Reaching a new high the market started a correctional movement.
For more than a month, the pair was steadily falling within a bullish flag pattern.
Yesterday, its resistance was finally broken.
I believe that such a breakout may initiate a bullish trend continuation.
Goals: 102.7 / 104.5
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CAD-JPY Short From Resistance! Sell!
Hello,Traders!
CAD-JPY will soon retest a falling resistance
Which makes me bearish on the pair
In the short term and I am expecting
A move down from the resistance
Towards the target below
Sell!
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EURJPY Key trading levelsThe EURJPY pair is trading around the 1D MA50 (blue trend-line) being within a Channel Down pattern since the April 21 High. Coming off a Bearish Megaphone, this is similar to the Channel Down of September - November 2020, which was nothing more than a big Bull Flag on its way to a strong uptrend.
If the pattern continues to be repeated, then the price should post one last Lower Low near the 1D MA200 (orange trend-line) and then rebound towards the 140.000 High of April. If however the 137.00 Resistance breaks first, this Lower Low is invalidated. Notice also that the MACD is currently on a Bullish Cross.
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TRADE OF THE WEEK | Classic Pattern Trading 💰
Hey traders,
Last week we spotted together a cute double top formation on USDJPY.
Its neckline breakout was a trigger for us to sell the market on a retest.
This week, we finally cashed out with my students.
The market dropped nicely giving us 130 pips of pure profit.
What a great winner!
Did you catch this move?
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Please, support my work with like, thank you!❤️
USD-JPY Will Go Down! Sell!
Hello,Traders!
USD-JPY is trading in a downtrend
And the pair broke a key horizontal level
So after the pullback and retest
The bearish dynamic will continue
And we will see the price retesting lower demand levels
Sell!
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USDJPY: Your Trading Plan For Next Week 🇺🇸🇯🇵
Hey traders,
USDJPY is coiling around strong daily structure support.
From such a perspective, I see two potential scenarios:
Bearish
If the price breaks the underlined yellow support to the downside and closes below that on a daily,
then a further decline will be expected to 125.25 level.
Bullish
On a 4H time frame, we can see a local bearish trend.
Lower highs are respecting a falling trend line.
If the price breaks that to the upside I will expect a bullish move to a daily falling trend line.
Wait for a reaction and only then follow the market.
What do you expect?
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️