CADJPY is on a very strong trend on wkly chart.
As I posted before, USDCAD strongly bearish , USDJPY strongly bullish, so CADJPY is what looks like now.
The new swing from the double bottom is very possible to reach 96 -100.74.
Make your plan to follow the wkly trend on 4H chart.
LESS IS MORE!
CAD - Weak Bullish
1️⃣ CAD remains supported by an increase in WTI crude oil prices.
2️⃣ The economy in Canada added as many as 157K jobs in September, easily beating market expectations for 65K growth. Meanwhile, the unemployment rate fell to 6.9% from 7.1% in the previous month, in line with market forecasts.
3️⃣ The inflation rate for September is projected to...
CADJPY has been very bullish. If we get another break above the triangle I will be entering long. T1 will complete the triangle break up and T2 for the pennet break up.
Approximates Entries, Targets and Stops.
Enter above: 92.46
CADJPY appears to be carving out a wave 3 high, bulls will be watching for a three wave correction to ideally test trend line support towards 90.30 to re-engage on the long side to target a 5=1 93.50 upside objective
CAD - Weak Bullish
1️⃣ Rising crude oil prices support the strength of CAD.
2️⃣ In August, Canada’s trade surplus increased to CAD 1.94 billion, from CAD 0.74 billion in the previous month, and surpassed the market forecast of a CAD surplus of 0.43 billion.
3️⃣ Canada’s IVEY PMI is forecast to rise in September following the easing of restrictions.
JPY - Strong...
1) HH HL
2) Upward trend
3) Taking Support from the lower trendline
1) Resistance area at 88.698
Plan A: On the bounce from the lower trendline one can buy for the target of 88..698 and then for the 89.795.
Plan B: Failure to take a support from here one can take a short position for the target of 87.157.
CADJPY just tested the 88.000 resistance and it got rejected, this pair has been in a range from 85.500 to 88.000 so we can look for a short if this pair keeps thisup. If the 88.000 resistance does get broken we can expect the pair to go up to 89.000 resistance. If the pair keeps rejecting the resistance we can look for short entries and ride the range until at...
For the past few days, we witnessed some JPY strengths which as a result CADJPY was pushed down!
Technically the structure is downtrend BUT WE CAN NOT IGNORE THE PRESENCE OF a SUPPORT ZONE AT DAILY TIMEFRAME!
So if we observe any reversal pattern candlestick formation at daily support zone or lower timeframes like H4 and H1, it might be a good sign for bulls...
CADJPY/EURUSD and GBPUSD are all correlated. Compare them using Daily TF if you feel like verifying.
Am going long with multiple positions strategically trapped inside the yellow box area. You might want to you stop and limit orders.
Feel free to sit this one out if you have already opened GBPUSD or EURUSD trades. Ultimately do not trade this signal if...
This is an educational + analytic content that will teach why and how to enter a trade
Make sure you watch the price action closely in each analysis as this is a very important part of our method
Disclaimer : this analysis can change at anytime without notice and it is only for the purpose of assisting traders to make independent investments decisions