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JAPANESE YEN / CANADIAN DOLLAR

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#CADJPY 1HCADJPY (Canadian Dollar / Japanese Yen) Timeframe: 1-Hour (1H) Pattern: Rising Wedge A rising wedge pattern has emerged on the 1-hour chart of CADJPY. This bearish formation typically signals a potential reversal or a slowdown in the prevailing uptrend. The wedge is formed by converging trendlines, with higher highs and higher lows, indicating a weakening upward momentum. The rising wedge pattern suggests that although the price is still moving higher, buyers are losing strength, and a breakout to the downside could be imminent. Forecast: Sell The current forecast favors a sell opportunity, as the rising wedge often leads to a bearish breakout. A breakdown below the lower trendline of the wedge would confirm the reversal and signal a potential decline in price. Technical Outlook: Resistance Level: The upper boundary of the wedge, where buyers may find it difficult to push the price higher. Support Level: The lower boundary of the wedge, which, once broken, could trigger further downward movement. Key Levels to Watch: A confirmed break below the wedge’s support level could accelerate selling pressure, leading to lower prices. Traders should wait for confirmation through signals such as bearish candlestick patterns or volume increases on downward moves before entering short positions. Keep an eye on market sentiment and relevant news, especially regarding oil prices (affecting CAD) or safe-haven demand for JPY, as these could influence price action in this pair.
Short
by PIPSFIGHTER
1
CADJPY Is Very Bearish! Short! Here is our detailed technical review for CADJPY. Time Frame: 1h Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 106.050. Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 105.642 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
5
Analysis of CAD/JPY – Potential Reversal and Bullish MoveOn this CAD/JPY daily chart, we can observe the formation of a potential double-bottom reversal pattern near the 102.86 support zone. The price has rebounded from this area, indicating strong buyer interest and a possible shift from the previous downtrend. This pattern suggests a possible bullish reversal if confirmed with a breakout above the recent highs. Key Levels: Support: 102.86 – This zone has been a strong demand area and has provided solid support for the price. Resistance: 115.76 – The first resistance to break is at 107.23. If this level is breached, we could see further upside toward 115.76. Technical Indicators: Moving Average: The chart includes a moving average (blue dotted line), which is currently slightly above the price. If the price manages to break above the moving average, it could signal a continuation of the bullish momentum. Momentum Indicators: The lower panel shows the TDIGM oscillator indicating a positive upward curve. This suggests that momentum is gradually shifting in favor of the bulls. If this trend continues, it would further confirm the potential for a bullish reversal. Bullish Scenario: If the price breaks above 107.23, it would confirm the double-bottom pattern and could lead to a strong upward move toward 115.76, providing a solid risk-to-reward ratio for long positions. Entry: A possible long entry could be placed just above 107.23, confirming the breakout. Stop-Loss: The stop-loss can be placed just below the support level around 102.86 to manage risk effectively. Target: The first target could be set near 115.76, offering a favorable risk-to-reward ratio. This setup is showing potential, but as always, wait for confirmation before entering any trades. Bearish Scenario: If the price fails to break above the 107.23 resistance and falls back toward 102.86, this would invalidate the bullish setup and could lead to further downside, potentially breaking the support and heading lower. Happy trading!
Long
by MrVNpt
CADJPY Strong buy at the bottom of the 2-year Channel UpLast time we gave a signal on the CADJPY pair (July 09, see chart below), we got the sell we wanted, as a brutal collapse started straight after: This time we get a strong buy signal as the price is rebounding after a Double Bottom on the Higher Lows trend-line of the 2-year Channel Up. This is similar to the January - March Double Bottom, which until now, has been the strongest long-term buy signal on the pair. Once the price breaks above the 1D MA50 (blue trend-line), we will have the buy confirmation we need to target the 0.9 Fibonacci level (like June 23 2023) at 117.100. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Long
by TradingShot
CAD/JPY Day Trading analysisOn CAD/JPY, it's nice to see a strong buying reaction at the price of 104.940 . There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again. Uptrend and high volume cluster are the main reasons for my decision to go long on this trade. Happy trading Dale
by Trader_Dale
CADJPY Possible Long Position4H - Re-Entry 1H - 50 EMA Rejection + Bollinger Band Rejection 15m - CSAK + Entry in MALO Note: * Cancel trade or cut-loss when candle close Below MAHI (2 Red Color Lines) in 4H * 1:3 RRR * TAYOR A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis I am using the BBMA OA Reentry Zone Zero Loss Strategy as a basic reaction to recent market events, rather than attempting to forecast the market's future course
Long
by GreggiBond
CADJPY NEXT MOVE (LOOKING BULLISH)(17-09-2024)(MID TERM)Go through the analysis carefully, and do trade accordingly. Anup Bias (Mid term) Current price- 104.300 "if Price stay above 103.700 then next target is 104.900 and 105.700 and below that 103.00 -POSSIBILITY-1 Wait (as geopolitical situation are worsening ) -POSSIBILITY-2 Wait (as geopolitical situation are worsening) Best of luck Never risk more than 1% of capital to follow any position. Support us by liking and sharing the post.
by AnupZiddi
4
CADJPY View!!Markets are undecided whether the Bank of England will hold, or cut rates by 25bps on Thursday, raising the potential for GBP volatility which has put the FX options market on high alert. The FX volatility upon which FX options thrive is an unknown, yet key parameter of their premium, so dealers use implied volatility - their best guess. Disparity between implied and realised over the life of the option is a common occurrence and makes FX volatility a tradable asset. Therefore, any implied volatility increase over a key event like the BoE, is also a bellwether for the wider market to see the additional FX volatility that options traders think that event will generate.
Long
by FXBANkthe8055