We are expecting a drop down to our support region around 85.007, then we take a nice long position for about a 145pips
NB: Risk management highly adviced.
CAD/JPY 1H Chart: Channel Up
The Canadian Dollar is recovering against the Japanese Yen in a short-term ascending channel that expectedly started to form as soon as the preceding downtrend has changed. By the moment, it already consists of four confirmation points and might be broken in the present week.
Given that that the 100-hour SMA and the updated...
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,...
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.
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
21 Major Cross-Rates (of this 1st Week 2017) statistical data @ my GOOGLE Drive
drive.google.com
Best regards
Aaron
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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Liability Disclaimer : All trades posted here are...
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!
