. There is still a possibility of temporary retracement to suggested resistance line (83.55). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CADJPY is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic...
CADJPY on the weekly has broken out of the major descending channel (See below) so right now we can anticipate a pullback back to retest the channel and the ascending trendline. Watch for break of the smaller ascending trendline a form of retest before entering.
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Hey all! Hope you are all well and safe during the pandemic. I'm starting to see a possible H&S forming, with a possible right shoulder forming the peak at 83.75, with a possible drop to the support line around 81.9 drawn from mid-November with a SL around 84.4. Please leave a like if you agree and comment on your thoughts on the trade. Thanks.
Hy dear Members hope you all are enjoying our ideas and Analysis. Now we are here to discuss about NZDCAD. This is making wedge. Now it has maximum Chances that it will Retest to the Bottom of the Wedge. It can touch Price level 0.91 price level.
Keep in touch we will update further soon
Good morning traders, hope you are all having a fantastic morning. Just recently entered my first position for the day.
(H1) - Mini structure break and retest in between the current high and low. Should see continued bullish momentum as we have just recently come off a strong double bottom.
(M30) - Nice strong rejection coming into the key level followed by a...
I'm already long on this since 82.360, there were posts made when price was at that level. But if not in the trade there is now an opportunity for a smaller trade. Price has retraced to a support level and if it rejects then longs can be entered up to the same target price as mentioned in previous posts of 84.571. SL just below support and 0.5 Fibonacci
#CADJPY Continuing to rise in the upward channel that began its existence in October 2020, the price came to the strong resistance zone of 83.83 formed at the intersection of two lines. One of these lines is the channel resistance line.
The second is the currently strongest resistance line for the chart, created in 2015! Despite the fact that the last days the...
Hey all! Hope you're all well and safe during these troublesome times. I've seen the late afternoon jump on Friday where CADJPY jumped up towards 84 but slowly returned back to 83.5, most likely due to the weekend. I can see a possible short option if the harmonic plays out as there appears to be a double top. My target is the 82 region, which fits the support...
We can see price has retraced to retest our previous resistance zone before bouncing to the upside.
Once again, a classic break and retest setup on this pair.
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