CADJPY has been in a downtrend for a long time. There are some indications that a reversal or pullback is possible. However, at this moment, our idea is to follow the chart and update whenever we see a reversal indication.
Look for buy on first impulse , its a very good risk-reward setup. Linked below is my USDJPY and XAUUSD setups, both of them are in good profit, you can still enter based on your strategy.
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A lot of bearish flags today i think today is my trading day yeah i think this can go down it is standing on the bearish volume. cadjpy
Reasons To Go Short:
Bearish Flag
Consolidation
Nice Momentum
Showing Bearish Volume here
All Signs Indicating Bearish Only Movement
Best Of Luck
Regards MJ
We have reached a strong support area, if it keep holding and we break a the yellow trend line its a good buy.
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CADJPY on a great long / bullish trend line plus broken above my other TL.
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Oil is good and Dandy :) and this will affect CADJPY - call me crazy - I took a long position from 83.613 and I am not getting out until 84.900 just to be safe;)
Enjoy!
CAD continue to ride down south due the reason we all knew about ;) A significant potential of kissing 84.764 can't be rule out
- Please set your SL accordingly .
Happy trading y'all
CADJPY stalled at 0.618 retracement level of move from 87.4 to 78.9
To watch closely how the pair acts
Similarly, RSI bearish divergence can be observed in USOIL
The move up may just be a retracement due to oversold conditions rather than a reversal
Expecting support/target levels on white support line, 83.16, 82.68, 82.12, 80.9
