Price broke its channel to the upside, came back to retest & looks to have closed back above 89.000 Key level. CAD rate hikes this coming week we may see a strong move higher !
CADJPY is now testing major support at 88.50 (61.8% Fibonacci retracement, 61.8% Fiboancci extension, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 90.37 resistance (61.8% Fibonacci retracement). We are seeing intermediate resistance at 89.65 (38.2% Fibonacci retracement) too. Stochastic (34,5,3) is also...
Long CADJPY @ 89.30; TP @ 91.09, SL your choice
i found than cad underperform and yen outperform,also he start to be much oversold is an intraday trade also enter at 89.55 target 90.15 gains 60 pips in 2 x 1 lot when first lot reach 30 pips i cut it and make the second lot with a SL at + 15 pips
Short CADJPY @ 91.50; TP @ 89.67, SL your choice
CADJPY potential buy trade, here we can see a potential 5 wave structure unfolding, expecting prices to fall into the demand zone before rising higher
Short CADJPY on double top, operation slightly delayed... I realized late the formation of the double top... however the risk reward is good. You might even think about placing a short order higher up, in order to increase the risk reward ratio and try to make a more efficient trade! obviously the stop must be put over the top
Great bat, already starting to reverse on the daily with the Doji at the peak. A = .382 - .5 B = .382 - .886 C = 1.618 - 2.618 X to D = .886 Shows some previous Support/Resistance at these levels, indicated by the yellow line
I will keep updating CADJPY ideas. Follow me and check the related ideas below to learn the longer-term CADJPY plan. Good luck.
Whatever goes up comes to a short trade!
The pair CADJPY is evolving inside an ascending channel daily. A rebound on the major resistance at 91.60 is probable with a first psychological target at 90.00 then 88.00 which is the next major support.
Currently seating at an important resistance zone, CADJPY offers a potential sell opportunity and later a potential buy. Say welcome to 2018 :)
Waiting for a daily closure above 89.810 for buy opportunities. Price broke back up above weekly resistance, now should move up towards the next level of resistance.. Waiting for further confirmation.
Today's price showed a continuation in the trend Buying this at 1:1 Risk Reward to 91
The Canadian Dollar has been appreciating in a channel up against the Yen since mid-December. Along the way, the pair breach the prevailing three-month descending channel. Meanwhile, it has reversed near the dotted line on several occasions within the aforementioned short-term pattern. In case the Loonie fails to breach this line today, a breakout south is...