As this pair has closed with a bearish candle, this pair is still on consolidation mode just right at the monthly's inverse Head & Shoulders. Despite the bullish stance the Japanese Yen is delivering to the market in addition to the bearish stance Crude Oil is giving, the Loonie-Yen pair is still able to maintain its consolidation mode. Whatever path it takes,...
CAD/JPY 0.31% is most possibly in a reversal mode at the moment being. In the shorter term charts, we can see the convergence divergence with the MACD , with prices moving higher yet MACD making lower lows. If this resistance holds then we can expect CAD/JPY 0.31% to go down at least 200 pips. Always trade with your own analysis as well as money manage...
As shown on the graph representation, the CADJPY monthly time frame has formed an inverse H&S... and it is currently hovering at the neckline of the monthly inverse H&S! It's gonna be tough... but it's going to be interesting! I currently have long CADJPY as seen on my previous analysis.
As seen on the graph represented for you, the 2-hr ascending trend line has still been intact. Whenever it has broken a consolidation, it has allowed to push higher... then back to consolidation before any push higher. Due to the recent events of the Bank Of Canada wherein it has applied a rate hike after years of keeping the rates intact, the Canadian Dollar has...
We see a correction of 200 PIPS from the current level. Let's Watch !!
Buy CAD/JPY after a retracement/pullback as shown in the chart. Respect the Entry, StopLoss & Take Profit Zone . Hope, this will be a nice trade. :)
Hi,traders!The price will test 84.8!I hold a point:Good charts does not more words to explain! Good luck!
Take Entry @ 85.10 Take Profit @ 83.30 Stop loss @ 87.65
After the strong upward move, CADJPY has to retrace ,So shorting now would be the best move right now but for short Tps thanks.
Double top forming possible head and shoulders could form if price wants to be stubborn. If price is not able to break above 88.80 level then it will drop down to 3 possible areas 1st being 84.000 2nd. 82.000 or 3rd. 80.000
This is only a trading capability - no recommendation !!! Next wkk i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
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. Give it a like if this has helped you in any way. Follow for more ideas and daily updates
With Japanese markets closed until Friday, it could be the end of the week before the JPY pick up again . The Loonie have so much advantage now... I took long position from 83.605 with 4 Tps. We'll see how this transpire, but am sure it will be a good, as usual :) Have fun trading!