CADJPY - Lets Stick To The Trend!
*This post is slightly late as this move was so sudden, however this setup is still valid*
Analysis:
Bullish Confluences
Bearish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Analysis:
Bullish Confluences
- Strong upwards trend
- Massive wick rejection
- Retesting an area of significance
- In an ascending channel
- Upwards trendline touch
- The CAD is the 3rd weakest major currency whereas the JPY is the second weakest major currency
- 17K short position decrease for the CAD
- 8K short position increase for the JPY
Bearish Confluences
- 2K long position decrease for the CAD
- Recent CAD news has been bearish
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry requirements have been met and our order has been filled. We are long looking to see the trend continue and price to carry on pushing higher!