IvanLabrie
Short

CADJPY: 3 short entries possible

FX:CADJPY   Canadian Dollar/Japanese Yen
464 18 16
Analysis on chart, the pair shows a strong downtrend and rgmov prints lower lows while price doesn't.
This is bearish .
Also, price is forming modes lower, validating the downtrend.
Split the entry in 3 parts risking 1/3 of your desired exposure to this trade on each.
TP when target is hit, but you can cover 50-75% once the distance to the stop is reached to make the trade risk free.
Shout out to Anil Mangal for making me look this way.
Good luck,
Ivan.
I think its a well spotted opportunity, I am looking more and CHFJPY but still have no clear signal. CAD itself could be the mover in this pair.
+1 Reply
I'm already short nzdjpy, but long usdjpy at the same time. (which makes it equivalent to being short nzdusd).
I think it has another strong leg down at least, the targets and/or channel bottom should be achievable.
+1 Reply
HiTech PRO IvanLabrie
AUD is very weak, so NZD could follow, from what I can see
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oh and there are two targets I have in mind for CADJPY
1---- 92.70
2.--- 89.80

My first target corresponds with yours :) good luck
+1 Reply
Thanks! Same to you.
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Entry #1 filled. Sold short under a daily low.
Waiting to see if I get a fill on any of the rest, would be nice.
Today is a BIG NY data day:

09:30 1h 10m US USD Consumer Price Index Ex Food & Energy (MoM) (Jun) 2 0.2% 0.1%
09:30 1h 10m US USD Consumer Price Index (YoY) (Jun) 3 0.1% 0.0%
09:30 1h 10m US USD Consumer Price Index Ex Food & Energy (YoY) (Jun) 3 1.8% 1.7%
09:30 1h 10m US USD Housing Starts (MoM) (May) 2 1.127M 1.036M
09:30 1h 10m US USD Building Permits (MoM) (May) 2 1.104M 1.250M Revised from 1.275M
09:30 1h 10m US USD Consumer Price Index Core s.a (Jun) 1 241.76
09:30 1h 10m US USD Consumer Price Index (MoM) (Jun) 2 0.4%
09:30 1h 10m US USD Consumer Price Index n.s.a (MoM) (Jun) 1 238.67 237.81
09:30 1h 10m CA CAD Consumer Price Index (MoM) (Jun) 2 0.3% 0.6%
09:30 1h 10m CA CAD Bank of Canada Consumer Price Index Core (MoM) (Jun) 2 -0.1% 0.4%
09:30 1h 10m CA CAD Bank of Canada Consumer Price Index Core (YoY) (Jun) 3 2.2% 2.2%
09:30 1h 10m CA CAD Consumer Price Index (YoY) (Jun) 3 1.0% 0.9%
09:30 1h 10m CA CAD Consumer Price Index - Core (MoM) (Jun) 1 0.4%
11:00 2h 40m US USD Fed's Stanley Fischer speech 2
11:00 2h 40m US USD Reuters/Michigan Consumer Sentiment Index (Jul)Preliminar 1 97.0 96.1
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I'm agree bro !! Very Bearish
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I'll let my orders sit, low exposure.
I'll go long USDCAD too, small risk, but big r/r.
Posted the entry yesterday, not sure if you saw it.
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vaicru PRO IvanLabrie
I dont saw it. Sorry, but i'm on holiday.
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CADJPY is testing our patience here.
I covered my shorts at practically break even.
Waiting now.
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The move finally started!
Now, let's watch it closely.
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Slow but steady progress here. I'd look into covering soon, or at least moving stop to break even if short.
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mcpeacocks IvanLabrie
pretty slow indeed. espeially with this pull back based on the good CAD numbers yesterday. lets so how she develops - Oil is continuing to drop to there should be some more downside to it, daily is showing some minor bullish divergence though. i'm looking to see what she does when testing the top slope of the triangle
snapshot
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This one might start accelerating now.
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HiTech PRO IvanLabrie
agree 150%
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also have a look at eurcad and gbpcad, both looking very very strong
+1 Reply
very very nice call
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Thanks.
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