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JAPANESE YEN / CANADIAN DOLLAR

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JPYCAD trade ideas

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
CADJPY Bullish Correction against the down trendCADJPY recently made a fake breakout of the previous support level, but quickly bounced back, taking liquidity below the previous week's low. On the daily timeframe, a long-tailed bar has formed, signaling that bulls are pushing the price higher. Additionally, on the 4H timeframe, another long-tailed bar confirms the buying pressure. A bullish divergence is present, indicating a potential trend continuation. If the market breaks and closes above the 108.500 resistance level, it could likely test the level above the equal high on the left, further confirming the bullish sentiment. The target is the resistance zone around 109.15
Long
by RTED_Investing
CadJpy Trade IdeaI personally decided to take some shorts on CJ with price still being in a solid range. The range is tight but it still gives me an opportunity to enter with a solid risk to reward. I'm looking for a 1:3rr on this set up. 4hr showed bullish structures within the range. Once price tapped into the resistance level we had a solid break of structure and then the retest to confirm a possible push back to the downside. It is Monday and there's a bunch of news happening all day so we'll see what happens. The higher time frame looks solid on the shift and is giving me a bigger confidence on the trade. It doesn't mean it'll play out but I definitely like what I see.
Short
by OfficialJ23
#CADJPY 4HCAD/JPY 4-Hour Chart Analysis: The CAD/JPY 4-hour chart shows a trendline breakout, accompanied by a strong support level. After moving in a downtrend, the price has successfully broken above the descending trendline, indicating a shift towards bullish sentiment. Additionally, the price has found support at a key level, reinforcing the possibility of an upward move. Forecast: - Buy after the price confirms the breakout above the trendline and holds above the support level. - This breakout suggests a change in market direction, signaling a potential upward rally. - Look for further confirmation through volume and price action to validate the strength of the trend continuation. Let me know if you need any adjustments!
Long
by PIPSFIGHTER