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CADJPY trade ideas

CAD/JPY Bullish Analysis: Targeting Key Untested Levels Bullish Outlook Supported by Trendline, Support, and Resistance Levels The CAD/JPY pair has shown a strong bullish pattern. The price has touched the trendline for the third time, confirming its validity. Additionally, it has broken above the yellow resistance level and is currently retesting it, signaling a continuation of the upward momentum. From a daily structural perspective, there are untested levels at 111.448 and 113.154 that the market is likely to revisit in the coming sessions. Key Takeaways: Trendline Validation: The price has respected the trendline for the third time, reinforcing its significance. Retest in Progress: The yellow resistance level, now acting as support, is being retested for confirmation. Target Levels: The market is expected to move toward the untested zones of 111.448 and 113.154. Risk Management Tips: Always apply proper risk management strategies. Risk no more than 1% of your total portfolio on a single trade. Ensure every trade is accompanied by a stop-loss to mitigate potential losses. Disclaimer: This analysis is for educational purposes only. Make informed trading decisions and trade responsibly. #BTCUSD #CADJPY #EURUSD #GBPUSD
Long
by VENRAW
1
CAD/JPY - 1hr ( Sell IntraDay Target Range 100 PIP )Analysis of CAD/JPY on the 1-Hour Chart: A Bearish Perspective The CAD/JPY currency pair presents a compelling case for bearish sentiment, particularly when analyzed through the lens of the 4-hour chart. This analysis focuses on a significant breakout level, identified at 109.800, which serves as a crucial pivot point for traders operating within a large-scale framework. Upon reaching the 109.800 level, the market exhibited a notable bearish breakout, characterized by a surge in trading volume. This high volume serves as a confirmation of the breakout's validity, suggesting a strong consensus among market participants regarding the potential for further downward movement. The implications of this breakout are profound, as it signals a shift in market sentiment, favoring sellers over buyers. ☑Bearish After Break Out key level + High Volume / 109.800 Point Bearish Target 75 : 150 PIP 🛡 Break Out Done
Short
by GentleGoldenEngine
2
CAD/JPY 4-Hour Timeframe AnalysisCAD/JPY 4-Hour Timeframe Analysis Trend Analysis: On the 4-hour chart, CAD/JPY is in a clear uptrend, breaking through previous minor resistance at 108.600, which has now become a major key support level. This is supported by the formation of a 4-bottom pattern, indicating increased buyer pressure. The price has tested this support level multiple times, signaling stronger support and the potential for a reversal to the upside. After breaking the resistance at 109.800, the price moved upward, but then began consolidating as large buyer orders were accumulated, suggesting a potential breakout. Price Action Expectation: Our objective is to wait for the price to form liquidity within the identified liquidity zone. If the price breaks above the minor resistance again, confirming continuation, we’ll enter a buy position. A break above 110.020 will signal further bullish momentum, and we will look for an opportunity to buy. Fundamental Correlation: CAD Unemployment Rate: Tomorrow’s Canadian Unemployment Rate is scheduled for release, with the previous data at 6.8% and the forecast at 6.9%. Impact on CAD: If the data comes in worse than expected (e.g., a higher unemployment rate), this could weaken the CAD, potentially delaying the bullish setup or causing a retracement in the price. Conversely, A stronger-than-expected result (below the forecast of 6.9%) could lead to CAD strength, reinforcing the bullish outlook for CAD/JPY. A lower unemployment rate signals a strong labor market, which could push the CAD higher as traders price in potential economic growth. Trade Setup: Trade Type: Buy Stop (Breakout Trade) Entry: 110.020 (on confirmation of a break above resistance) Stop Loss: 109.470 (below the support zone to allow for pullbacks) Take Profit: 111.420 (next significant resistance level) Conclusion: CAD/JPY is showing strong bullish momentum after breaking the key resistance at 109.800. The current setup suggests that once liquidity is established and the price breaks above 110.020, there could be a continuation to the upside. The next target is 111.420, a significant resistance level. The upcoming CAD Unemployment Rate release is critical; if the data comes in stronger than expected, it could accelerate the bullish momentum, supporting our setup. However, a disappointing result could weaken the CAD and halt the upward movement. Risk Management: Maintain a disciplined approach with a 1:2 risk-to-reward ratio. Position sizes should align with your account equity. Monitor the CAD Unemployment Rate release and adjust your trade accordingly. It's crucial to be aware of any volatility following the data release, which could impact price movements.
Long
by RebornFXTrader