CADJPY is testing major resistance at 86.26 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, pullback to descending resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 85.86 (Fibonacci retracement, horizontal overlap support).
RSI (55) sees descending resistance line provide ...
As i mention it in the forecast one more down move is possible. If you want to trade that short term sell, then don't keep the trade and TP. Buy scenario is a better trade. Please trade with care.
CADJPY Sell Trade/Idea:: This Pair Has Set Up Nicely For A Downward Move, So Opening A Sell Trade Is A Smart (NO, Right Thing) Thing To Do. However, Be wery Of The Strong Up-Move As It Might Signal A Break To The Downward Move, With That Make Sure You Have Your SL (85.11 Levels) In Place.
FX:CADJPY
Recently, the CAD / JPY rate has grown strongly from 80.69. On graph D, the rate stopped at resistance. On the H4 chart, in my opinion, a formation with a head and shoulders is formed. After piercing the neck line, we can see going towards the goal 83.11. I currently have 2 open positions in the levels of 85,342, 85,114. The next position will come after ...
Riding JPY's weakness because of its Prime Minister's corruption scandal and recent strength in Oil (must be careful though because looking at the oil chart, it's possible to suddenly reverse instead of continue moving up and breakout its current resistance @65). Setting up Buy Stop with TP near 90 (resistance in CADJPY's weekly chart) and SL at recent support ...
CADJPY has dropped from our selling area perfectly. We remain bearish expecting further downside pressure.
Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price has reversed perfectly from our selling area and is dropping nicely towards our profit target. We remain bearish below major resistance at 82.77 ...
CADJPY is right on major resistance presenting us with a good selling opportunity.
Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price is testing major resistance at 82.77 (Fibonacci retracement, horizontal overlap resistance, fiboancci extension, bearish harmonic formation) and a strong reaction could ...
CADJPY is seeing some major resistance above price presenting us with a good opportunity to sell from.
Sell below 82.77. Stop loss at 83.48. Take profit at 81.29.
Reason for the trading strategy (technically):
Price is approaching major resistance at 82.77 (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance, bearish harmonic formation) and ...
CADJPY is starting to show signs of a major reversal, time to start buying.
Buy above 80.58. Stop loss at 79.60. Take profit at 83.46.
Reason for the trading strategy (technically):
Price is seeing major support above 80.58 (Fibonacci extension, major 2 year swing low, Elliott wave structure, bullish divergence) and a strong bounce could occur at this level to ...
