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JAPANESE YEN / CANADIAN DOLLAR

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JPYCAD trade ideas

Possible long on CADJPY next weekWhen a currency breaks outside the channel and then changes color, it signals a reversal in strength/trend. By waiting for this to happen to two currencies during the same candle, an entry signal is created (CAD=red, JPY=white) The current trend has not ended, however. Based on previous data, it looks like it will take 3-4 more candles for the CAD and JPY lines to change color outside the channel, signaling the CADJPY pair to reverse into a bullish direction. I am projecting 3 days of forward ATR against the previous candle's bodys low (I prefer measuring this rather than the high/low wicks), to get a price range of 111.738 to 116.446 over the next week. Based on today's current price, it puts the lower end to 113.189, which is also about 1x ATR from yesterday's open, so it "lines up" in that sense. We'll probably have confirmation to go long around Wednesday of next week! Good luck on your trades Note: Here is the indicator in action for the last 4 months. Over the last 4 months, it would have been accurate 5 out of 6 times (83%), with small wins each time (and possibly one big win), depending on your trade entry and how you manage your trades:
Long
by KyleBaran
CADJPY ShortBias Bearish Fundamental CAD reduce interest rate caused bearish momentum. JPY plans to increase interest rate caused bullish momentum Price has break through the Daily SR level. Price is extreme bearish. In the Daily S/R level, lower TF H1, price formed a double top / descending triangle pattern. And price broken out of that level and headed lower. Short set up Short trade at H1 broken support level. SL above the swing high of double top pattern. TP targeting the next lower Daily S/R level
Short
by royschen07
CADJPY: Three Potential Reversal Areas to Focus onCADJPY: Three Potential Reversal Areas to Focus on CADJPY is about to complete a harmonic bearish pattern near 190.00 This strong psychological zone also corresponds to the completion of the pattern. if the price crosses 190.00 , then two other possible retracement zones are 120.00 and 121.00 As you can see, all three of these price zones are also strong psychological prices, given that CADJPY is rising into uncharted territory that was last seen nearly 17 years ago. Be careful: Given the fundamental outlook that the BOJ is doing nothing to support the JPY, we should be cautious. This is not an analysis to blindly sell at the market price. This analysis should be used as a reference only. The BOJ may intervene near those zones considering that the USDJPY is also testing an old price zone last seen in 1986 The problem is that if the BOJ does not intervene in the market to support the JPY, the CADJPY and all XXXJPY pairs will continue to rise as I have explained in all the JPY ideas I have posted so far. You may find more details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
by KlejdiCuni
6
eye on the Factors Behind Long CADJPY: A Detailed ExplorationTechnical Outlook: According to the technical outlook for CADJPY, the current trend is bullish, and the sentiment is oversold based on the 7-period RSI indicator . The market is approaching a significant support area at 115.742, which indicates a highly probable bullish movement . Another technical analysis suggests that CADJPY is very bullish . However, it's important to note that technical analysis is subjective and should be used in conjunction with other factors for decision-making. Economic Calendar: The search results do not provide specific information about the economic calendar for CADJPY. It is important to consider economic events and indicators that may impact the Canadian dollar (CAD) and the Japanese yen (JPY) when making trading decisions. The US economic calendar is considered important since the US is the largest world economy, and its indicators can have significant effects on other markets and currencies . The organizations that publish meaningful indicators with a great impact on the markets include the US Bureau of Labor Statistics, the US Bureau of Economic Analysis, the US Census Bureau, and the Energy Information Administration .
Long
by FtradeFXArabic
1
CADJPY ShortDaily Bias Bearish Fundamental Analysis JPY is strengthening, CAD is weakening (expecting CAD reduce interest rate) Price Action: Price broke below H4 SR level and retrace back into the H4 SR level. Going down to M5 timeframe, Price formed a small H&S pattern, price just broke through the neckline of M5 H&S pattern. This supports my analysis of further bearish movement Confluence: Higher TF (W/D/H4) - Broke through SR level Lower TF (H1/M30/M15) - In M5, H&S was formed and broken below the neckline. A bearish momentum candle is formed in M15. Set up: Short trade entry at H&S Neckline M5 SR level. SL above the Swing high of H&S. TP targeting the H4 swing low.
Short
by royschen07
CADJPY is moving southThe CADJPY pair shows potential for a short position based on fundamental and technical situation. Canadian Dollar (CAD): The Canadian Dollar has been declining against major currencies. This trend is primarily driven by the Bank of Canada (BoC) aggressively reducing interest rates. The upcoming BoC interest rate decision, scheduled for Wednesday, is expected to result in a cut to 4.5% from the current 4.75%. This anticipated reduction is likely to exert additional downward pressure on the CAD. These rate cuts aim to stimulate economic activity but also contribute to the devaluation of the CAD in the forex market. Japanese Yen (JPY): Conversely, the Japanese Yen is currently the strongest currency among its major counterparts. It is benefiting from a reduction in carry trade activities, which typically involve borrowing in low-yielding currencies like the JPY to invest in higher-yielding assets. As these trades unwind, demand for the Yen increases. Additionally, the Bank of Japan (BoJ) continues to support the Yen through its monetary policy measures, further bolstering its strength. Conclusion: Given the contrasting monetary policies and economic conditions in Canada and Japan, the CADJPY pair appears positioned for further downside. The anticipated rate cut by the BoC, coupled with the strong performance of the JPY, suggests that shorting CADJPY could be a decent trading idea. Don't forget - this is just the idea. Do your own research and manage your risk at all times!
Long
by Stanislav_Bernukhov_Exness
1
CADJPY - Following The Bulls!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📈 CADJPY has been overall bullish , trading within the rising channel marked in red. Currently, CADJPY is undergoing a correction phase. Moreover, it is retesting massive support zone in green. 🏹 Thus, the highlighted blue circle is a strong area to look for trend-following buy setups as it is the intersection of the green support and lower blue/red trendlines acting as non-horizontal support. 📚 As per my trading style: As #CADJPY approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
2
CADJPY ShortDaily Bias Bearish Fundamental Analysis CAD Bearish JPY Bullish Price Action: Price retrace back into Daily S/R Level. Price consolidated in the Daily S/R level. Price broke below H1 S/R level and H1 trendline and create a lower low. This has give an confirmation of bearish movement. Confluence: Higher TF (W/D/H4) - Daily S/R level retested and rejected Lower TF (H1/M30/M15) - Rising wedge pattern and H&S pattern were formed, price broke below both pattern to create a lower low. Set up: Short trade at H&S neckline (H1 SR level). SL above H&S swing high. TP Targeting next Daily swing low R:R 1:4.
Short
by royschen07
Heading into 38.2% Fibonacci resistance?CAD/JPY is rising towards the pivot and could potentially reverse from this level to the 1st support. Pivot: 115.50 1st Support: 113.82 1st Resistance: 116.23 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
CADJPY : ANOTHER BEARISH BREAKOUT- Similarly to our previous analysis on USDJPY, the CADJPY pair has been trading above a bullish trend line for 7 months ; the mid-term trend was bullish. - Since the impact around 118.85, the market has registered a sharp pull-back that first led prices back to their bullish trend line around the 23.6% Fibonacci support above 115.385, before a bearish break-out occurred. This bearish break-out was initially anticipated by the RSI indicator, which took place following a bearish divergence inside the overbought zone. Both moving averages are now reversing to the downside, but a bearish is cross is still yet to be seen. - Just like the current situation seen on the USDJPY pair, it is hard to say whether the current correction will go much deeper or not. However, 113.25 (38.2%) and 111.50 (50%) should be seen as interesting targets for this bearish movement. Pierre Veyret, Technical Analyst at ActivTrades The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Short
by ActivTrades
Heading into 38.2% Fibonacci resistance?CAD/JPY is rising towards the resistance level which is an overlap resistance that lines up with the 38.2% Fibonacci retracement and could reverse from this level to our take profit. Entry: 115.51 Why we like it: There is an overlap resistance level which aligns with the 38.2% Fibonacci retracement. Stop loss: 116.29 Why we like it: There is an overlap resistance level which aligns with the 50% Fibonacci retracement. Take profit: 113.80 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 15-Minute ChartThe red highlighted area at the top indicates a resistance zone where the price has repeatedly failed to break higher. This suggests strong selling pressure at this level. The recent price action shows a potential bearish trend. Given the repeated failure to break above the resistance zone and the projected downward movement, market sentiment appears bearish for CADJPY in the short term. Consider entering a short position around the current price level or upon confirmation of a downward move from the resistance zone. Targets would be the support levels at 114.708 and 114.098. Ensure proper risk management by sizing the position appropriately and setting stop losses.
Short
by TopGBanks