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CADJPY trade ideas

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
CADJPY Set To Fall! SELL! My dear friends, Please, find my technical outlook for CADJPY below: The price is coiling around a solid key level - 109.92 Bias - Bearish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear sell, giving a perfect indicators' convergence. Goal - 109.24 Safe Stop Loss - 110.30 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Short
by AnabelSignals
1
Bearish reversal?CAD/JPY is rising towards the pivot which is a pullback resistance and could reverse to the 1st support which acts as a pullback support. Pivot: 110.94 1st Support: 109.71 1st Resistance: 111.77 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
Elliott Wave View: CADJPY Has Reached Area Where Pullback can HaCADJPY has already reached the extreme area from 8.5.2024 low. This suggests that pair is in the zone where it can start to see a pullback soon. Shorter cycle structure however looks incomplete and pair can see further upside a bit more. The rally from 9.30.2024 low is currently in progress as a zigzag Elliott Wave structure. Up from 9.30.2024 low, wave ((a)) ended at 109.82 and pullback in wave ((b)) ended at 107.69. Internal subdivision of wave ((b)) unfolded as a double three structure. Down from wave ((a)), wave (w) ended at 108.02 and wave (x) ended at 109.087. Wave (y) lower ended at 107.7 which completed wave ((b)) in higher degree. Pair has resumed higher in wave ((c)). Up from wave ((b)), wave (i) ended at 108.97 and pullback in wave (ii) ended at 107.98. Expect 1 more push higher to complete wave (iii), then it should pullback in wave (iv) to correct cycle from 10.21.2024 low in 3, 7, or 11 swing before it resumes higher again. Near term, as far as pivot at 107.7 low stays intact, expect pullback to find buyers in 3, 7, or 11 swing for further upside.
by Elliottwave-Forecast
BUY!!! CADJPY HAS REACHED A WEEKLY AND DAILY INTEREST ZONEHELLO TRADERS, I AM CURRENTLY INTERESTED IN CADJPY FOR THIS WEEK I HOPE YOU LIKE THE IDEA AND COMMENT WHAT YOU THINK. TECHNICAL ANALYSIS CONFLUENCE FOR PURCHASE AT THE MOMENT 1.- bullish weekly time frame 2.- bullish daily time frame 3.- Bullish 4 Hr time frame 4.- rejection of the last weekly structure point 5.- rejection of weekly interest zone 6.- rejection of psychological number 108,000 7.- rejection of the last daily structure point 8.- daily EMA rejection 9.- rejection of daily interest zone 10.- daily rejection candle 11.- rejection of the last point of structure 4 Hr 12.- rejection candle 4 Hr why do I like it? Do not complicate your life by making very extensive meaningless analyses, this is easy and simple, operate with logic and common sense. The price is respecting a weekly and daily interest zone that has been rejected repeatedly in the past. Clearly we see that the weekly chart is bullish as the structure of the weekly chart has changed from bearish to bullish (note that the lower high of September 2 has been broken) and following that it is retesting above this lower high and has been respected. The daily chart is bullish as it has broken the previous higher high (note the high of September 26 and 27) following that the price has retested this higher high and has been respected (note the daily candles with strong breaks and the daily bullish rejection candle from yesterday October 13) we also have a rejection of the daily EMA 50. And the psychological number 108,000 has been rejected attracting buyers at this strong level. I will wait again for the 108,000 test and an entry confirmation to enter long, keep an eye on this pair. If you like the idea, comment, I will respond to suggestions and comments!
Long
by FxAlexisTrader
CADJPY GOING DOWN !!!The CAD/JPY pair has been showing clear signs of a downtrend, with key indicators pointing towards further depreciation in the coming days. Several factors are contributing to this bearish momentum: 🔻 Weakening Canadian Dollar: Recent data suggests a slowdown in Canada's economy, putting pressure on the CAD. Lower oil prices, a crucial export for Canada, are also contributing to this weakness. 🔻 Strengthening Yen: As global uncertainties rise, the Japanese Yen is gaining strength due to its safe-haven status, putting further downward pressure on CAD/JPY. 🔻 Technical Analysis Confirms the Trend: The pair has broken key support levels, with moving averages and momentum indicators confirming that the price is heading lower. Selling pressure has been increasing as we move towards oversold territory. Now could be a strategic time to enter a SELL position on CAD/JPY before it drops further. Stay ahead of the market and take advantage of the falling price action! 📉
Short
by edl75
CADJPY / H1 / SHORTCADJPY may experience a decline from the Bearish Order Block The price is currently located within a Bearish Order Block. Bearish Order Block: 109.094 - 108.895 Based on Smart Money Concepts (SMC), there is a high probability that CADJPY will face downward pressure from this area. Let's watch how the price reacts to this order block and see if it follows through with a downtrend. Entry price :- 109.094 - 108.895 Take Profit :- 108.357 Stop Loss :- 109.469
Short
by PraveenTrader1