Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (80.00). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADJPY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
Tested support now twice and we are approaching the third. Wanting a long entry on this one. If we break past support don't take the trade. On the hourly and 4 hour time frame wait for some pull back and then place an entry otherwise place when you want.
H4 Channel broken to the downside, rejection on inner resistance suggesting bearish potential. Entered at .618 retracement as new lower low has been created suggesting a new downtrend. TP at golden levels.
SL @82.770
Entry @ 82.590
TP1 @ 82.152
TP2@ 81.982
Morning traders,
Re entering our Canadian dollar Japanese Yen long trade as the bullish price pattern continues to play out. Last week we traded it up to our take profit 1 before cashing out and now we are looking to re enter at todays pull back level. As per our trading view chart we have an ascending channel which has been tested multiple times and should the...
took an earlier trade on this pair and it hit the take profit nice, easy 9 %. Other trade going well with stop loss at entry. This trade could lead to another possible 2.5 %
Afternoon traders,
Enjoying this setup in Canadian dollar versus Japanese yen and the ascending channel which the pair have been in since mid May. We have had higher lows in RSI whilst price has been setting new lows pointing to a bullish divergence signal for the pair to move higher within the ascending channel as per our trading view chart.
The setup allows...
The Canadian Dollar vs. the Japanese Yen. When a trader is unsure about trading the US Dollar, the CADJPY is often determined to be a suitable replacement. However, the historically higher yield of the Canadian dollar in the past has made the CADJPY more sensitive to market wide sentiment changes than the USDJPY. Also, Canada’s large amount of energy exports, most notable oil, causes it to be affected by crude oil prices.
This website uses cookies to ensure you get the best experience on our website. To learn more about cookies, including how to control cookies, please read our Cookies Policy.
