There is a probability of first tp to the proposed ( 78.719 ) Direction line. So, Traders can set orders based on Price Action and expect to reach short-term goals.
CADJPY is in Downtrend and It is Expected to Continue Downtrend.
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Follow the trade plans and notes. Sketch up your own trade setup and make sure you meet with the required confirmations first, before you make your move!
Plan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
CADJPY had broken the local resistance level and tested it. So, now it's the best buy place and our target is near the previous highs.
Please, let me know what you think in the comments below.
I hope you have great success with all your next trades.
Best regards EXCAVO
Today’s Analysis- CADJPY – price impulse through key structure, an S/R flip retest will validate it as support.
Points to consider,
- Trend oversold bounce (RSI)
- .618 Fibonacci (Resistance)
- Structural support (S/R Flip)
- Stochastics sell cross
- Volume influx
CADJPY trend impulse was due to oversold conditions indicated by the RSI. A...
The CAD/JPY has recently bounced from the Support zone. As the EMA suggest , there is going to be a trend reversal soon , so the price is going to range in the nearest time and we cannot confirm the Uptrend yet.
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Welcome back for some more chart analysis practice. I found another trend continuation...
CAD/JPY has recovered from the low with a strong V-shaped rally, which is a sign of reversal.
Further, the could interpret it as an ABC correction.
Hence, we expect the pair to trade with bullish bias from here.
. There is a possibility of temporary retracement to suggested support line (78.5). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. 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....
Hope you all have a fantastic day !
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CAD/JPY will go lower as JPY is getting stronger. 200 MA will be resistance that helps push down price.
Let us know what you think about this idea.
Trade safe !
The market after being in a sideway movement for a long time is now breaking to the upside the daily resistance.
On the daily chart we can see the false break out attempt to the downside before the market start the move up.
At the retest of the structure we can set a nice long order according with our strategy.
Follow the Shrimp 🦐
Here is the Plancton0618...
Hello my friend,
There is a nice trade setup in CADJPY which could give us a worthy RR.
I notice a bearish flag on the daily timeframe of CADJPY. Price already broken below the support as well. Right now price retrace up to 61.8 fibonacci level and this is actually a nice area to try selling it. I am going to play patiently on this pair and waiting for price to...