Technician

CADJPY: Pin Bar at Potential Reversal Area

FX:CADJPY   Canadian Dollar/Japanese Yen
1484 13 26
Watching this confluence
  • 200-Days SMA
  • Rising Trend line resistance
  • 127.1 extension level for the latest bearish wave
  • Shooting star candle

Chances for another bearish leg seems above 50 percent for me. A break below yesterday's low at 97.14 may confirm a short trade.

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IvanLabrie PRO
2 years ago
My take and correlations/fundamental background:

CADJPY: Update

Crude oil: intermarket analysis

Nikkei: Update


Pretty big implications, for a cadjpy downtrend...
+2 Reply
Technician TOP IvanLabrie
2 years ago
I see your view, but i prefer to wait for confirmation for this one as I see the breakout in crude still has room, also USDCAD .
-1 Reply
IvanLabrie PRO Technician
2 years ago
I think crude is done already. It overshot my targets but it's extremely oversold.
About confirmation, yes, there's no clear entry yet.
+1 Reply
Technician TOP IvanLabrie
2 years ago
Lets see if we get a trade.. Good night time to rest
Reply
IvanLabrie PRO Technician
2 years ago
;) Have a good one.
+1 Reply
do you think it's going to break 96.40 area?
Reply
AbdullahAljohani PRO AbdullahAljohani
2 years ago
snapshot
Reply
Technician TOP AbdullahAljohani
2 years ago
Only in the case that 97.14 my bias will shift to short. So far as you mentioned in the chart its a bullish breakout
-1 Reply
Perfect analysis. Nothing should go wrong.
Reply
EagleTrades PRO
2 years ago
Looks ready to reverse!
+1 Reply
I entered short at 98.50
Short Opportunity with a tempting RRR
Reply
Technician TOP HamedAghajani
2 years ago
Looks good. I have a bearish bias on all JPY pairs for the coming short period, but still don't have a signal to short
Reply
Technician TOP
2 years ago
Key Area
snapshot
-1 Reply
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