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Canadian Dollar / Japanese Yen

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CADJPY trade ideas

CadJpy Trade IdeaCJ was another set up I posted the other day. I spoke about price being in a range with solid structures to support some type of long or short entry. I was personally looking for price to either break above the LH to continue the range and catch some logs with targets around resistance or wait on price to crash back down below and retest to confirm the break of the range with some short positions. The first entry would've been a loss but the 2nd entry for shorts would've hit tp and recovered any losses. I didn't take the trade since I was already in another. For CJ shorts would ideal.
Short
by OfficialJ23
CAD/JPY Levels: High-Probability Short and Long SetupsCAD/JPY pair has shown a consolidation pattern and recent recovery following a sharp drop from highs near 118.80. After this correction, price has established a support base around 104.50 and has recently climbed back to 111.00, encountering a significant resistance level. On the daily chart, CAD/JPY shows resistance near the 50 and 200-period moving averages, suggesting potential pressure around the current level. The TDI indicator signals divergence in the overbought zone, reinforcing the likelihood of a short-term reversal or correction. Additionally, CAD/JPY is trading within a long-term ascending channel, providing mid-term buy and sell opportunities around key levels. Setups 1️⃣ Sell at Resistance with Reversal Setup Entry: 111.00 Stop Loss (SL): 112.20 Take Profit (TP): 106.00 Rationale: CAD/JPY faces technical resistance at this level. The overbought signal combined with divergence on the TDI increases the probability of a short-term pullback. This setup targets a potential price retreat to the next support near 104. If SL is hit, this would indicate continuation, invalidating the setup. 2️⃣ Buy on Pullback to 50-Period Moving Average Entry: Await price correction towards 50 MA for optimal entry Take Profit (TP): 113.00 Risk-Reward Ratio: 1:2+ Rationale: In line with the CAD/JPY recovery trend within the ascending channel, this strategy captures a retracement entry on the 50 MA, often acting as dynamic support. The TDI signals suggest mild overbought easing, supporting this strategy with controlled risk. CAD/JPY is trading at a crucial technical level, where buyers and sellers are battling near 111 zone. Analysis suggests a likely short-term reversal toward support or a potential break above resistance, continuing the long-term trend. The outlined strategies address these scenarios with defined entry, SL, and TP levels, optimizing return potential while managing risk. We recommend closely watching for confirmations at resistance and support in lower timeframes before taking positions. 📈 As always, monitor price action closely! 📉
Short
by MrVNpt
cadjpy shortcadjpy at its weekly resistance with 90% plus short sentiments . so with trendline resistance and the the divergence on shorter time frames 1h, 4h with closing of first red hken ashi its best to play to a sell ride... until it reaches its daily support level and then a short buying opportunity ahead with confirmaton of support level bounce with bullish div till the fib 0.5 retracement happens. and after that the last one the trade of sell from the 0.5 fib level till our target area.... so hava a nice bearish ride ahead inshallhaa
Short
by inambari
CadJpy Trade IdeaGonna start this week off with a CJ trade idea! We just came off of a horrible news week. News was in the way and ended up affecting most pairs. CJ has been a range for some time now between 109.8 and 107.8. Price ended last week coming back down below a higher higher with a retest of the resistance. I'm looking for price to either break below and retest to confirm a range continuation or wait on a buy confirmation to the upside. Patience is gonna pay here. Price may open up with a smaller range within the range it's currently in so I'll adapt and make the necessary changes if needed in order to get into some type of sell or buy position.
by OfficialJ23
CADJPY: Accumulating under the 1W MA50. Low risk buy.CADJPY is on a healthy bullish 1D technical outlook (RSI = 59.003, MACD = 0.700, ADX = 25.174) as it hit this week the 1W MA50 for the first time in 3 months. Rejection or not, historical price action shows that every time it tests it coming from a bottom on the 2 year Channel Up, the price breaks it and goes for a HH. The 1W MACD just made this week the new Bullish Cross and the last time it did so on such a low level, it was on April 3rd 2023, exactly at the start of the previous bullish wave. We expect initiallt the price to approach the R1 level, which is our Target (TP = 118.000), like the price did on June 26 2023. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope