FX:CADJPY   Canadian Dollar / Japanese Yen
The CAD has been relatively neutral (though strongish during the correction), whereas the JPY has kept on being strong in the long-term perspective. In terms of the cycles of momentum of both currencies, the CAD seems to be likely to complete its rising phase and the JPY about to strengthen a bit. The trend is still down. Now that price has approached the upper MLH of a down sloping Schiff pitchfork , there's some good (approx. 80%) chance that the selling pressure intensifies and the rally gives way to a decline back towards the median line . This is also where the basic Fib levels coincide.
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
Looking bullish:

OK. I'm out. That's pretty much what I expected to get.
+2 Reply
Mirandole ForceFollower
Well done buddy !
+1 Reply
itaskar ForceFollower
very nice
+1 Reply
prachait ForceFollower
Helpful, thanks |
+1 Reply
Thank you, guys. I'm still short NZDJPY and NZDUSD.
An update. At a potential resistance, quite likely to retrace back down to the dashed line.
ForceFollower can we say or confirm that the latest 4hr candle is good breakout of the last channel in the fork?
ForceFollower Mazen_alhegili
Sure, TheiDev, no matter how you draw it. It looks like a fact to me. Now I'd expect a retracement though.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out