#CADJPY
- CADJPY is currently selling after a STRUCTURE BREAK because the current MARKET SENTIMENT is NEUTRAL. Somehow, JPY is becoming somewhat STRONG. Similarly, the YEILD given by the BOJ to JP10Y increased, making the JPY STRONG. The reason for that is because the Bank of Japan did not intervene in the long term to strengthen the JPY, they are...
#CADJPY
- CADJPY is currently selling after a STRUCTURE BREAK because the current MARKET SENTIMENT is NEUTRAL. Somehow, JPY is becoming somewhat STRONG. And as expected, JPY WEAKNESS came after the BOJ INTERVENTION. This was because the Bank of Japan did not intervene in the long run to strengthen the JPY. Meanwhile, CAD has become very STRONG in the last...
- INDICATOR DATA CORE RETAIL SALES, RETAIL SALES are to be released today especially for the Canadian Dollar. There is no significant news release for the Japanese YEN today. Because of this, if there is any change in the price of oil for CAD, it could have an impact on the Canadian dollar.
- The Canadian Dollar is a COMMODITY BASED CURRENCY and continues to...
CADJPY rejected an important Daily/4H resistance level after faking-out above it (which corresponds to a Weekly/Monthly wick) the SL will be put to break-even when price reaches 90.240 level, as it has acted as a strong support/resistance in the past and price could bounce up from there. The Final target is 87.800.
In the past week, CADJPY has broken above and retested a major Weekly/Monthly resistance for the first time in years, which indicates the trend is still healthy, and up. The next target is 98.650, althought i am planning to take some profits at the (A) pictured level, before i anticipate a potential Weekly retracement to the 91.400 support/resistance level...
This pair is also ready to go (down), right alongside it's other carry trade siblings - CAD/CHF, NZD/CHF, NZDJPY, AUDJPY.
All of these pairs a major Shorts, from here;
This one (CADJPY) ought to be good for ~500 pips from here.
Here is the Short Entry off of the 4 hr.;
