After a sharp recent rise, I'm seeing multiple indications of selling taking place, possible leading to a move down to the 84 area or lower. Obviously, this is negated by a push upwards towards 89.
I have CADJPY at resistance. Looking for a 1:3 RR This could be a double top , so potentially a trend reversal too.
Maybe interesting another Yen Pairs for Short on this Pair. Just wait for break out the Small Trendline and you can put Position for Short.
The 3TAP theory might show its glory here. I find it interesting that there have been so much cash build up, seen in the volume. I'm curious about this one. Seeing that CAD is not doing well on many pairs, it might be a good short with a tight stop-loss. I would wait and let it confirm a short. It needs to pass EMA10. It's a good rule of thumb to never trade on...
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... 21 Major Cross-Rates (of this 1st Week 2017) statistical data @ my GOOGLE Drive drive.google.com Best regards Aaron
Double top forming possible head and shoulders could form if price wants to be stubborn. If price is not able to break above 88.80 level then it will drop down to 3 possible areas 1st being 84.000 2nd. 82.000 or 3rd. 80.000
FX:CADJPY Will it print us a correction? Let's drive it... Safe Trades;
88.400 zone strong area of resistance on this pair as it has not been able to push through and break it since 04/2016.. look for a double top to form
price back to 61.8 after break the uptrend. good time to short again
This is only a trading capability - no recommendation !!! Next wkk i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
I think CAD/JPY will make another wave on Trendline, if make a rejection on this area and VALID make a New WAVE.. Confirm for SHORT
This is only a trading capability - no recommendation !!! Next week i`ll confirm or change my opinion about this SetUp :) Buying/Selling or even only watching is always your own responsibility ... Best regards Aaron
Yesterday broke daily trend line. Target 85 and 82 in extension. Set top loss at 88.65 Excellent profit to loss ratio Good Luck
On the CAD.JPY Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup. The price reversal zone on this pair is between 87.724 & 88.779 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's. Potential targets for the Cypher setup placed at the .382% and .618%...
Conservative target is 81.768 Below 80.5 bottom falls out