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CADJPY trade ideas

CADJPY CUP & HANDLEHello traders! Let's revisit the CADJPY chart and provide an update since I shared the idea on August 17. It's time to clarify things. Our focus is on CADJPY, where an interesting Cup and Handle Pattern is taking shape on the daily chart. For a more in-depth understanding of Cup and Handle patterns, you can check out additional resources here: (www.tradingview.com). Make sure to return here for the continuation of this analysis! Examining the price action, we observe a distinct double bottom with a Low Cup at 104.247. Currently, the price is situated below the Breakout level at 110.624, and astute traders will notice the ongoing development of the handle phase. Once the anticipated breakout occurs at 110.624, we will take action and execute the trade, placing our stops just below the previous low pre-breakout. Our target sights are set on the first target zone: 62% at 120.845 and 79% at 123.620. But that's not all – keep your trading antennas finely tuned, as additional setups may emerge on smaller timeframes, enhancing our trading landscape further. Remember, trading is a continuous journey. Stay vigilant, stay informed, and, most importantly, stay tuned for more exciting developments in the world of trading. Happy trading, everyone! 📈📉
Long
by TradeChartPatternsLikeThePros
2
Could CAD/JPY reverse from here?Price is rising towards a resistance level which is a pullback resistance that aligns with the 61.8% Fibonacci projection and could reverse from this level to our take profit. Entry: 114.72 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci projection. Stop loss: 115.84 Why we like it: There is a pullback resistance level which lines up with the 161.8% Fibonacci extension. Take profit: 113.04 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
CADJPY - Wait For The Bears Hello TradingView Family / Fellow Traders, CADJPY is currently approaching a massive supply zone marked in red. 📉 For the bears to take over again and start the next bearish impulse movement, a break below the last major low in gray is needed. Meanwhile, CADJPY would be bullish short-term and can still trade higher. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Richard Nasr
Short
by TheSignalyst
BUY CADJPY for uptrend continuation BUY CADJPY for uptrend continuation STOP LOSS : 111.81 There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) ..... The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here ..... TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Long
by BALE_FX
Rising towards overlap resistance?CAD/JPY is rising towards a resistance level which is an overlap resistance that aligns with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 113.794 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 114.879 Why we like it: There is a pullback resistance level which is slightly below the 61.8% Fibonacci retracement. Take profit: 111.574 Why we like it: There is a pullback support level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
2
CADJPY Is Going Down! Short! Here is our detailed technical review for CADJPY. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is on a crucial zone of supply 112.872. The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 109.055 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
cadjpy buy tradeBased on the current H4 charts for CAD/JPY, here is a bullish technical analysis: *Trend Analysis:* - The pair shows a tendency to move upward, indicated by the formation of higher lows and higher highs⁴. *Moving Averages:* - The price trending above the Ichimoku Cloud suggests a bullish sentiment⁴. *Bollinger Bands:* - The proximity to the upper Bollinger Band indicates a potential pullback, but the overall trend remains bullish³. *MACD (Moving Average Convergence Divergence):* - Converging MACD lines suggest a bullish trend, although caution is advised as signs of a potential pullback are present³. *RSI (Relative Strength Index):* - The RSI approaching overbought conditions could signal a strong bullish momentum, but also the need for a possible retracement before continuing the uptrend³. *Volume:* - While specific volume data isn't provided, an increase in volume would confirm the strength of the bullish trend. *Support and Resistance:* - The currency pair is preparing to strengthen against resistance at 112.26, indicating a bullish setup². Please note that this analysis is based on the latest available data and market conditions can change rapidly. It's important to use proper risk management and stay updated with the latest chart information. Always consider multiple sources and your own analysis before making trading decisions.
Long
by Mansa_Musa_Capital