RECTIFICATION : CADJPY GOING UP !!!We misunderstood the charts thinking there would be a huge drawdown, but no ;
CAD takes its vengeance today by actually striking up at 2:30 PM London time, and will probably zigzag along after that.
CADJPY trade ideas
CADJPY Set To Fall! SELL!
My dear friends,
Please, find my technical outlook for CADJPY below:
The price is coiling around a solid key level - 109.92
Bias - Bearish
Technical Indicators: Pivot Points Low anticipates a potential price reversal.
Super trend shows a clear sell, giving a perfect indicators' convergence.
Goal - 109.24
Safe Stop Loss - 110.30
About Used Indicators:
The pivot point itself is simply the average of the high, low and closing prices from the previous trading day.
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WISH YOU ALL LUCK
Bearish reversal?CAD/JPY is rising towards the pivot which is a pullback resistance and could reverse to the 1st support which acts as a pullback support.
Pivot: 110.94
1st Support: 109.71
1st Resistance: 111.77
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Elliott Wave View: CADJPY Has Reached Area Where Pullback can HaCADJPY has already reached the extreme area from 8.5.2024 low. This suggests that pair is in the zone where it can start to see a pullback soon. Shorter cycle structure however looks incomplete and pair can see further upside a bit more. The rally from 9.30.2024 low is currently in progress as a zigzag Elliott Wave structure. Up from 9.30.2024 low, wave ((a)) ended at 109.82 and pullback in wave ((b)) ended at 107.69. Internal subdivision of wave ((b)) unfolded as a double three structure. Down from wave ((a)), wave (w) ended at 108.02 and wave (x) ended at 109.087. Wave (y) lower ended at 107.7 which completed wave ((b)) in higher degree.
Pair has resumed higher in wave ((c)). Up from wave ((b)), wave (i) ended at 108.97 and pullback in wave (ii) ended at 107.98. Expect 1 more push higher to complete wave (iii), then it should pullback in wave (iv) to correct cycle from 10.21.2024 low in 3, 7, or 11 swing before it resumes higher again. Near term, as far as pivot at 107.7 low stays intact, expect pullback to find buyers in 3, 7, or 11 swing for further upside.
CADJPYThe CADJPY is showing a bullish outlook, indicating a strong opportunity for long positions. With key support levels holding firm and bullish technical indicators like RSI above 50 and a recent MACD crossover, the market sentiment favors upward momentum. Targeting resistance levels while managing risk with a tight stop loss below recent swing lows can optimize potential gains. A break above current resistance would confirm further upside potential for CADJPY longs.
CAD/JPY - Potential Buy Reentry H4 TFTechnical analysis based on Basic BBMA strategies( Bollinger Band and Moving Average). This is just a potential market projection where the market price can go. Trade wisely.
BUY!!! CADJPY HAS REACHED A WEEKLY AND DAILY INTEREST ZONEHELLO TRADERS, I AM CURRENTLY INTERESTED IN CADJPY FOR THIS WEEK I HOPE YOU LIKE THE IDEA AND COMMENT WHAT YOU THINK.
TECHNICAL ANALYSIS
CONFLUENCE FOR PURCHASE AT THE MOMENT
1.- bullish weekly time frame
2.- bullish daily time frame
3.- Bullish 4 Hr time frame
4.- rejection of the last weekly structure point
5.- rejection of weekly interest zone
6.- rejection of psychological number 108,000
7.- rejection of the last daily structure point
8.- daily EMA rejection
9.- rejection of daily interest zone
10.- daily rejection candle
11.- rejection of the last point of structure 4 Hr
12.- rejection candle 4 Hr
why do I like it?
Do not complicate your life by making very extensive meaningless analyses, this is easy and simple, operate with logic and common sense.
The price is respecting a weekly and daily interest zone that has been rejected repeatedly in the past.
Clearly we see that the weekly chart is bullish as the structure of the weekly chart has changed from bearish to bullish (note that the lower high of September 2 has been broken) and following that it is retesting above this lower high and has been respected. The daily chart is bullish as it has broken the previous higher high (note the high of September 26 and 27) following that the price has retested this higher high and has been respected (note the daily candles with strong breaks and the daily bullish rejection candle from yesterday October 13) we also have a rejection of the daily EMA 50. And the psychological number 108,000 has been rejected attracting buyers at this strong level.
I will wait again for the 108,000 test and an entry confirmation to enter long, keep an eye on this pair.
If you like the idea, comment, I will respond to suggestions and comments!
CADJPY GOING DOWN !!!The CAD/JPY pair has been showing clear signs of a downtrend, with key indicators pointing towards further depreciation in the coming days. Several factors are contributing to this bearish momentum:
🔻 Weakening Canadian Dollar: Recent data suggests a slowdown in Canada's economy, putting pressure on the CAD. Lower oil prices, a crucial export for Canada, are also contributing to this weakness.
🔻 Strengthening Yen: As global uncertainties rise, the Japanese Yen is gaining strength due to its safe-haven status, putting further downward pressure on CAD/JPY.
🔻 Technical Analysis Confirms the Trend: The pair has broken key support levels, with moving averages and momentum indicators confirming that the price is heading lower. Selling pressure has been increasing as we move towards oversold territory.
Now could be a strategic time to enter a SELL position on CAD/JPY before it drops further. Stay ahead of the market and take advantage of the falling price action! 📉
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
CAD/JPY SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
We are targeting the 104.334 level area with our short trade on CAD/JPY which is based on the fact that the pair is overbought on the BB band scale and is also approaching a resistance line above thus going us a good entry option.
✅LIKE AND COMMENT MY IDEAS✅
CADJPY short for 120pipsIf the pair is facing resistance around current levels and market sentiment favors JPY (safe-haven appeal), a 120-pip downside target is feasible. A 30-pip stop loss also provides a healthy risk-reward ratio of 4:1, suggesting that the trade could work well if price action supports it.
CAD-JPY Bullish Breakout! Buy!
Hello,Traders!
CAD-JPY is trading in
An uptrend and the pair
Just made a bullish breakout
Of the key horizontal
Level of 109.100
So we are bullish biased
And we will be expecting
A further bullish continuation
Buy!
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Check out other forecasts below too!
FvgSo we got a low and a high market came to test the 68 level on the fib and There's a fair value gap which has been filled to possible we going to see the market continue with the uptrend so I took a long position
CAD/JPY "Loonie-Ninja" Bank Money Heist Plan on Bullish SideHola! My Dear Robbers / Money Makers & Losers, 🤑 💰
This is our master plan to Heist CAD/JPY "Loonie-Ninja" Bank based on Thief Trading style Technical Analysis.. kindly please follow the plan I have mentioned in the chart focus on Long entry. Our target is Red Zone that is High risk Dangerous level, market is overbought / Consolidation / Trend Reversal / Trap at the level Bearish Robbers / Traders gain the strength. Be safe and be careful and Be rich.
Entry : Can be taken Anywhere, What I suggest you to Place Buy Limit Orders in 15mins Timeframe Recent / Nearest Swing Low
Stop Loss 🛑 : Recent Swing Low using 2h timeframe
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Warning : Fundamental Analysis news 📰 🗞️ comes against our robbery plan. our plan will be ruined smash the Stop Loss. Don't Enter the market at the news update.
Loot and escape on the target 🎯 Swing Traders Plz Book the partial sum of money and wait for next breakout of dynamic level / Order block, Once it is cleared we can continue our heist plan to next new target.
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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
CAD/JPY - CLEAR BUYS --- BUY NOWCAD/JPY is presenting CLEAR bullish momentum and can see it going to the weekly ranges and more! This is a falling wedge and looks rip for momentum to blast this pair to TP. This is 99% probability and is clearly indicating bullish direction. Enter now before it's too late!
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.
CADJPY ANALYSISOn these particular trade I can say this is a very good trade to go in, always apply risk management.
CADJPYTrend Reversal from Weekly Support
New highs formation
Flag formation
breakout occurred
retest of breakout appeared
instant buying recommended
Retest of major level of support Looks like CADJPY has come to retest previous level of support following with some rejection candles around the zone. Will most likely reject this major level as it remains strong and reverse to the upside
