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Cadjpylong

Market Optimism - CADJPY Moving HigherWith a "Phase I" trade deal between the US and China finally agreed upon, markets have continued to take on a "Risk On" mantra in recent sessions. In fact, this can be seen in the $CADJPY pair, as the Canadian Dollar appears to be marching higher since the lows of August 2019. On a technical basis, bulls continue to be in control, with prices still in a "Rising Channel" formation. To lend more support to this view, it also seems that an "Ascending Triangle" pattern has formed, coupled with a rising RSI. If such market euphoria continues, we could see prices break higher through $83.64 (Green Trend Line) and make a run for $84.59 (Orange Weekly Resistance Line). However, if this recent bullish momentum fails, we could see prices fall back down to $82.41 level (Bottom of the Rising Channel).
Long
by EconomicsGlobal
2
CADJPY, buy on H5 after +140pips profit secured ;)Note : Congrats!! i hope you have also secured profits from my previous analysis (link below) ... enjoy ;) Plan : wait for prices to bounce off trendline support --> wait for the rejection candle pattern to form e.g. bullish engulfing , pinbar etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
CADJPY Long Ahead of USMCAEntry – 82.0 Take Profit – 82.94 – 94 pips Stop Loss – 81.55 – 45 pips Been on a bit of a losing streak with my published trades. Seems like the ones I put out there are the ones that fail, but oh well. Even through there’s plenty of volatility with the trade war and USMCA deal, I entered a CADJPY trade. Daily chart. Looking for a reaction off the 200MA (blue line), ascending trendline, and the bottom of the Ichimoku cloud. My take profit is at an area of previous resistance (cyan line), though if this works out I’d guess price will continue rise to the second resistance level. My concerns for this one is that price is below the 30EMA (green line) and conversion line (red) on the daily chart and price is obviously in a downtrend on the weekly chart with price at/below the Ichimoku cloud and the below the 200MA. Still, I’m not looking for very much relative to that timeframe so I think there’s a chance. The downside risk isn’t huge and worth the try. Thanks for looking, Zedro
Long
by Zedro