Already long on this but it is currently retracing which offers those not in the trade another chance to enter. Enter once price reaches support, target is the same at 84.571.
The resistance level has now been cleared so buyers will now be looking for an optimal entry point at the break and re-test. I will be looking to position buys a little lower in the bounce box marked.
This is breaking above a resistance level. Safest entry is to wait for a retrace that tests this level as a support then long to the target of the next high. Although it is still very bullish on MACD on 4HR and daily so this could easily continue to rise from here. TP - 84.571 SL - 81.667
Very good looking retest on the Bull Flag for an impulse up
it will continue to spike up even more than the given reward ratio
CADJPY, Retesting Breakout and has a strong Support... Watch out Friends!
As we see the bullish movement respected by trendline we see the small channel was broke and cadjpy potential making bullish flag so we can waiting for the flag valid or we waiting for the new higher high as well thankyou !
professionals increased long positions 3k by last week, commercials increase short positions 8k by last week. professionals increase 5k shorts in jpy while commercials decreased 3k shorts. weekly key reversal bar made a new low closed off the high dictating for bullish momentum ahead.
Have been keeping an eye on both markets, CAD/JPY and AUD/CHF for retest to get in on the buy trades. Have my alerts set and waiting. Oh and pardon where i said AUD/JPY. Purely technical analysis trader, follow at your own risk...
Waiting for price to break this structure before shorting
I would like to think that the resistance has been wicked into enough for it to plummet from here. I want to see a slight pullback into the previous structure before bears take control.
CADJPY ANALYSIS Please consider to put a like to my idea for supporting me & subscribe for more ideas. Idea is not the financial advice!
MKT may test its TL near fibo level 0.786
Hey traders, here is the analysis for the USDJPY. NOTE - Please do your own analysis before taking the trade. Let me know if you guys have any questions in the comment section. If you guys like my analysis please hit like. Thanks.