CADJPY HARMONIC PATTERN COMBO:CADJPY HARMONIC PATTERN COMBO:
With the JPY getting strength, FX:CADJPY may fall to that level.
Cadjpysetup
CAD/JPY 20180723Waiting to see if this bounces again off the lower channel boundary. If so, will look to open a long position once we have a suitable confirmation candle. This idea could take a few days to develop, will keep it updated.
CADJPY : 1D : Bears Losing Steam. FX:CADJPY 0.11% End of bears action at 82.30 the price is rejecting to go below Monthly Resistance 82.30.
Bulls should be entering anytime soon in next couple of days.
E : above 82.30 to 82.50
SL : 81.95
TP : 84.1
CADJPY testing major resistance, prepare for a potential reversa
CADJPY is testing major resistance at 86.26 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, pullback to descending resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 85.86 (Fibonacci retracement, horizontal overlap support).
RSI (55) sees descending resistance line provide corresponding intermediate resistance.
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Box Box Box!CADJPY has been stuck in this range for WEEKS. I have continued to check it's situation however it is still struggling to break 85.75 high and 84.30 low, I will continue to monitor this pair but not really any opportunities to take advantage of until it break this box. Once it does, I will wait for a retest and then enter. Patience on this one guys! Unless you like range trading.....
cadjpy 12HThis short on the 12H is unique because of the way the second blue line (ray) cuts into the strong down bar, for me it creates a compelling reason to sell, as well as the the double top, although there is no immediate structural support to the left, the pattern alone gives it a chance. I could see in some respect price respecting the 50% fib on a larger time frame view and also bouncing off of a structure point from Aug 11, 2017, but that date is a bit far back. Again, the stop is tight, set at -25 pips.
CAD/JPY - 100 Pips+ Short OpportunityCAD/JPY has lost quite a lot from 91.5 to 88.5 since the beginning of this month.
It currently still hasn't found it's major support to get into a reversal.
We can expect it to fall further down about 100 pips if the current suport is broken.
As always, risk manage properly.
Happy trading!
Short CADJPY Longterm Based on Daily, Weekly + Monthly TF ChartsCADJPY is in a major support/resistance zone. Although there is room for further up movement, the risk:reward is not preferable for me. As we approach the resistance I will look for confirmation to short this pair with a long-term potential for 500 pips.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Pending Order of CADJPY SHORTPotential CADJPY SHORT based on Daily and 4H chart. Price seems to breach the Daily and 4H seller zone and has strong selling momentum.
It is a pending order, once price goes below the low of the previous 4H candle. It will trigger.
Let's see how it goes.
CADJPY Short 4H chartHi traders,
We are going to wait for a break of the trendline after a triple top has been created with a final exhaustion move. After the price, I suggest going short with half position as I'd like to wait for a break of the strong zone that has been drawn with a light blue rectangle. Once this is broken with a momentum candle, I will go short.
There was a long uptrend before so I suspect a strong push to the downside after the price has consolidated for a longer time.
As always, please be patient and wait for confirmation!
CADJPY Sell The TopCADJPY has been hovering around the same resistance area for a week now trading very side ways. Failing to break this resistance for such a long time basically proves that big money feels that CADJPY is already price high and they see the current area at the max. Why it hasn't go down yet? Well maybe the big money doubts the YEN a bit... but it also doubts the CAD against the JPY since the price is stuck for over a week. Most likely CADJPY will fall hard as the slightest bit of JPY news. first targets are 87 and 84 after that. So lots of potential in shorting CADJPY!!
TP: 87 > 84
SL: 89,70
Watch out for this pair!As this pair has closed with a bearish candle, this pair is still on consolidation mode just right at the monthly's inverse Head & Shoulders.
Despite the bullish stance the Japanese Yen is delivering to the market in addition to the bearish stance Crude Oil is giving, the Loonie-Yen pair is still able to maintain its consolidation mode.
Whatever path it takes, the move will be huge.
CAD/JPY - 200+ Pips OpportunityCAD/JPY 0.31% is most possibly in a reversal mode at the moment being.
In the shorter term charts, we can see the convergence divergence with the MACD , with prices moving higher yet MACD making lower lows.
If this resistance holds then we can expect CAD/JPY 0.31% to go down at least 200 pips.
Always trade with your own analysis as well as money manage properly.
Happy Trading!
Loonie up, Yen down?As shown on the graph representation, the CADJPY monthly time frame has formed an inverse H&S... and it is currently hovering at the neckline of the monthly inverse H&S! It's gonna be tough... but it's going to be interesting!
I currently have long CADJPY as seen on my previous analysis.
Possible push higherAs seen on the graph represented for you, the 2-hr ascending trend line has still been intact. Whenever it has broken a consolidation, it has allowed to push higher... then back to consolidation before any push higher.
Due to the recent events of the Bank Of Canada wherein it has applied a rate hike after years of keeping the rates intact, the Canadian Dollar has strongly pushed higher on several of its Forex pair despite the slow recovery of the Crude Oil (WTI and Brent).
CADJPYCADJPY for sell if breaks the trendline on daily chart u can sell from current point with Tight SL : 89.050 or wait for Break Trendline so CADJPY For Sell not for buy at the moment
CAD/JPY Buy OrderBuy CAD/JPY after a retracement/pullback as shown in the chart. Respect the Entry, StopLoss & Take Profit Zone . Hope, this will be a nice trade. :)
CADJPY Consolidation Coming to an End?The CADJPY isn’t something I trade often. But recent price action suggests the pair could be in the early stages of the next leg higher. And with the right amount of patience, the technical structure that’s been forming since mid-February could offer an attractive entry.
The pattern I’m referring to is the descending channel that extends from the February 15th high. Buyers have already tested the upper boundary of the channel twice and seem intent on having a third go at the 83.50 area.
Additionally, the CADJPY bounced from a significant area last week. The 82.00 handle has been a key factor since April of last year and is also the 50% retracement of the 2016 range that spans 1,410 pips between 74.81 and 88.91.
From here I’ll be on the lookout for a daily close above channel resistance near 83.50. If it happens, I’ll then need to see bullish price action on a retest of the area as new support.
The next key resistance would come in at 84.60. The level has served as a pivot since December of last year and is also the 38.2% Fibonacci retracement from the 2016 high to the current 2017 low. A close above 84.60 would expose 85.45 followed by 86.25.
But nothing is confirmed until buyers manage a daily close above channel resistance. Also, keep in mind that we have the Bank of Canada rate decision and statement this Wednesday at 10 am EST.
With this in mind, I’ll wait for the event to pass before considering an entry here.
