Trade what we see: Price topped out at 87.112 after being over extended on a 4 week bullish run. Sellers entered the market but observed the 4 hr bullish trend line. Price has now broken to the downside and we have a neck line which i am watching for a break. Fib levels determine the TP level which sits at 81.97
CADJPY broke out of its short term ascending support line and is testing our first resistance at 85.13 (horizontal overlap resistance) and a strong reaction might occur below this level pushing price down to our major support at 80.58 (horizontal swing low support). RSI is also seeing a bearish exit and Ichimoku cloud is showing signs of bearish pressure, in...
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.
Coming off of long-term reversal structure, a double broken and re-entered forming trap to the downside.
CADJPY is approaching resistance at 86.06 (61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance) where could potentially fall to its support at 83.36 (50% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 83.91 (38.2% Fibonacci retracement, horizontal swing low support)....
Sell below 86.06. Stop loss 87.69. Take profit at 83.36. Reason for the trading strategy (technically): CADJPY is approaching resistance at 86.06 (61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance) where we expect price to fall to its support at 83.36 (50% Fibonacci retracement, horizontal overlap support). We do have to be...
The Unemployment report will be released shortly, and much is expected to affect this pair. This pair in particular has witnessed the most bullish momentum compared with other JPY pairs. Well...not anymore. The Unemployment report isn't much optimistic, as well as the Net Change in Employment. as former is expected to remain and the latter is expected to reduce by...
CADJPY is testing our first resistance at 84.60 (horizontal overlap resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) which coincides with our short term descending resistance line. A strong reaction might occur below this level, pushing price down to our major support at 83989 (horizontal swing low support, 61.8% Fibonacci extension). Stochastic...
WELCOME TO DACAPITAL TRADING!! CADJPY just started moving as expected, quick Timeframe breakdown for free and everybody. 4 HOUR Small pullback after breaking previous h4 lows retesting them DAILY Last 5 days very bearish price movement and break of several lows indicating a downtrend WEEKLY Price was retracing and in consideration over last two months, now...
CADJPY to reverse after breaking the support line then continue the down trend.
Inside bar play on this one working based on the weekly, higher TF manipulation.
CADJPY is approaching our first support at 84.54 (horizontal swing low support, 23.6% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 85.75 (horizontal swing high resistance, 100% Fibonacci retracement). Stochastic is also seeing a bullish...
Cadjpy was formired bullish cycle elliotta for giving up trend need open buy stop after broke 85.606 with stop loss 85.480
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.
This short on the 12H is unique because of the way the second blue line (ray) cuts into the strong down bar, for me it creates a compelling reason to sell, as well as the the double top, although there is no immediate structural support to the left, the pattern alone gives it a chance. I could see in some respect price respecting the 50% fib on a larger time frame...
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...