Price is currently trading within Caption zone/s that last saw Tests for rejection to the downside in October-November of 2015.
For price to experience the anticipated drop, CAD has to weaken and JPY has to strengthen inclusive of fundamentals.
Bearish pattern signs have initialized on smaller time frames with rejection at 92.545, which is the beginning of a...
A few days ago I shared CADJPY analysis indicating a bearish pattern on H4!
Today I want to share the same analysis on the Daily timeframe!
Price is approaching to daily trendline resistance zone!
At the same time price approaching a key supply zone!
Failure to break above the zone will be an indication that bears are about to take over!
This is my view on this pair for the next days
Wait for the price to reach 89.7 area to look for a trigger.
I remind you that this is only a forecast based on what current data are.
Therefore the following signal will be activated only if specific rules are strictly respected.
If you follow my strategy you will be able to...
Ascending channel is formed in LTF the price might get rejected after 3rd touch and move down towards the previous swing point and then may continue to move upwards . We can take a risk entry at the 3rd touch with 15 pip sl and then hold till previous swing and can look for a buy after the rejection from previous swing with a good candlestick formation
Looking for a BRT (break and retest) here. Watch and wait for bullish price action at the support level. Always enter after confirmations of bullish price action. A bullish engulfer, an evening star, a hammer, a full bodied bullish candle that breaks minor resistance, etc.
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Here is my idea for CADJPY .
Index JPY will grow soon.
For guidance, find the Index Japan Below on my related post.
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CAD/JPY (H4 Timeframe)
A high probability, entry to LONG is forming @ 85.083 after the market found support @ 83.588. Only the downward break of 83.588 would cancel this bullish scenario.
Stop loss: 83.588
Take profit 1: 85.965
Take profit 2: 87.460
Take profit 3: 89.897
Strategy: Bullish Breakout
CAD/JPY (H4 Timeframe)
A medium to high probability, entry to go SHORT is forming @ 83.071 after the market found resistance @ 83.928. Only the upward break of 83.928 would cancel this bearish scenario.
Stop loss: 83.928
Take profit 1: 82.480
Take profit 2: 81.569
Take profit 3: 80.084
Strategy: Bull Trap
While CAD/JPY rates are still hovering below resistance that is constraining a breakout.it’s too soon to say that the CAD/JPY bullish breakout attempt has been denied. It remains true that clearing 81.58 and 81.91 would be strong indications that CAD/JPY rates were embarking on an earnest bullish breakout attempt… CAD/JPY rates are starting to regain bullish...