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CADJPY trade ideas

CADJPY - Breakout or ExhaustionCADJPY is exhibiting a loss of momentum as exhibited by a divergence on the MACD indicator. The market is factoring in expectations prior to both currencies news releases next week so there is a high possibility of a large move if news is contra these expectations. CAD is also making new 15 year highs against the Yen with Japan's economy unexpectantly slipping into recession so set short duration short targets in the case of pullbacks as there is a possibility of getting trapped in a bullish breakout.
by fugutrader
CADJPY Short❤️Forex Besties❤️ INFORMATION The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. NEXT TARGET IS 110.93 Everyone success..👍👍👍 ❤️FOREX BESTIES WEB - Technical Analysis Technical indicators SMA | EMA | MACD | SAR | VWAP | RSI | MARKET TREND | NEWS ❤️NOTE Further, the 'Loonie' - as the Canadian Dollar is known - is affected by oil prices because of Canada's energy exports. ❤️MONEY CAPITAL MANAGEMENT ⚡️ Only Trade With Risk Capital ⚡️ Cut Losses Short, Let Profits Run On ⚡️ Avoid Using Too Much Leverage ⚡️ Avoid Taking Too Much Heat ⚡️ Do Not Give in to Greed ⚡️ Take profit equal to 4-6% of your capital ⚡️ Stop lose equal to 2-3% of your capital
Short
by My_Forex_Team
CADJPY H1 | Potential bearish breakout Based on the H4 chart analysis, we can see that the price is currently at our sell entry at 110.87, which is a breakout support level Our take profit will be at 110.38, a pullback support. The stop loss will be placed at 111.44, above a swing-high resistance High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). 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 TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Short
by FXCM
Long in CADJPYI have taken a long position on CADJPY due to a bullish harmonic pattern buy signal. After conducting a thorough analysis of the CADJPY chart, I have identified a bullish harmonic pattern that suggests a potential upward move in the currency pair. The specific bullish harmonic pattern I have identified is the Gartley pattern, which indicates a high probability of a bullish bounce in price. Taking this into account, I have opened a long position on CADJPY with the aim of capitalizing on the expected bullish movement. I will closely monitor the price action for confirmation signals, such as an increase in bullish momentum or a breakout of key resistance levels. Please note that trading carries risks, and it is always recommended to conduct your own analysis and consult with a financial advisor before making any investment decisions.
Long
by JuanHernandez
CAD/JPY Technical Analysis and Trade IdeaMarket Observations: CAD/JPY has demonstrated a sustained bullish trend. However, the monthly timeframe indicates the pair is overextended. Furthermore, a double top pattern on the 1D chart suggests a potential retracement to the 50-61.8% Fibonacci levels. This zone could provide the necessary liquidity for major market players to accumulate long positions. Trade Strategy: Short Entry: Consider a counter-trend short entry at the current price level with a stop above the highs. 1:1 RR. Buy Entry: Target a buy entry near the 61.8% Fibonacci retracement level to capitalize on potential long positions initiated by larger institutions. SL at the lows and targets as mentioned in the video. Disclaimer: This analysis reflects my personal perspective and should not be misconstrued as financial advice. Always conduct your own thorough research and assess your risk tolerance before entering any trades.
by tradingwithanthony
Buy CADJPY Bullish channelThe CAD/JPY pair on the M30 timeframe presents a potential buying opportunity due to a well-defined bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Buy Entry: Consider entering a long position around the current price of 111.19, positioned close to the channel support. This offers an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 111.60 and 111.84, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the channel at 110.90. This helps limit potential losses if the price reverses and breaks back down. Thank you
Long
by KABHI_FOREX_TRADING
1
Lingrid | CADJPY channel BREAKOUTThe price perfectly fulfilled my last idea, and the market hit the target. FX:CADJPY formed a double top and a resistance zone. It is pulling back toward the lower border of the upward channel. I think the market might break through the channel and upward trendline by making new lows. I am waiting for the price to roll back to the support level because the price has fallen before and the market reached the resistance zone on the daily timeframe. My goal is the support level at 110.400 Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Short
by Lingrid
3
CADJPY: Bearish Divergence Warns of Trend Reversal📉 Overview: CADJPY, previously bullish, now shows bearish divergence on the 1-hour timeframe, forming its first lower high. With a strong 90% short market sentiment, there is significant support for an anticipated bearish reversal. 📊 Technical Analysis: Bearish divergence and the formation of a lower high suggest a potential shift from bullish to bearish. 📈 Market Sentiment: At 90% short sentiment, substantial support for the expected bearish reversal is evident. 📉 Trade Strategy: Consider short positions, aligning with the bearish signals, and anticipate further downward movement. 🛑 Risk Management: Mitigate risks with effective stop-loss orders to safeguard capital. 📈 Conclusion: CADJPY offers a concise opportunity for a bearish trend reversal, supported by bearish divergence and strong market sentiment. Monitor for confirmation and adjust positions accordingly.
Short
by miansarimhameed