Note : CADJPY is now at daily key level, I see the possibility of price forming a lower trough (LT) with target price at 83.450
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take...
The market gives us a trend reversal signal based on a bearish divergence and the 4H chart. MACD histogram and lines support a downward movement. DMI is bullish, but ADX line falls. It is a signal that buyers are not so active as before.
If the price breaks the local uptrend line, it will give us a possible sell opportunity based on the trend reversal signal....
cadjpy rejected by supply zone around 84.500
MACD shows negative divergence
RSI shows negative divergence
price formed leading diagonal bearish waves pattern
price at the last wave from elliot bullish impulse waves , ready to forming bearish correction waves
so its expect bearish movement to support area around 82.460
This looks like a confirmed sell! The Take Profit is on the chart!
The Take Profit 1 Area will be right before price hits the trendline support! Then I will add a second entry position on the breakout of that trendline support to the downside!
Please dont sell everything against Jpy! Just Pick 1 and then move on to another trade as if anything goes wrong, every...
CADJPY is at a Daily Key Level. I am expecting the pair to sell down to a target price of 83.088
*This trade idea is not investment advice. Please use proper risk management if taking this trade.
CADJPY’s consolidation phase in the major trend has been robust (refer weekly chart), while minor trend has been spiking through uptrend line (refer daily chart).
Bulls have tested uptrend line support with hammer and bullish engulfing patterns, consequently, bounced back above 7 & 21-DMAs with bullish crossovers in the minor trend of this pair.
As bears...
posibles ventas en largo cuando toque linea de tendencia, confirmacion con extension de fibonacci nivel 1.00 soporte y resistencia considerar probabilidad (1)
ADICIONAL
- Se puede tomar una compra en corto de 60 pips hasta la linea de tendencia
- Darle seguimiento
CJ just had a stutter step by showing off continued divergence on the RSI and MACD. Be cautious if you are trying to go long. For the bears, I will be looking for EITHER a double top on price WITH a lower high on the RSI/MACD OR a higher high on price, and a SIGNIFICANT lower high on RSI/MACD and an engulfing red candle. My target TP will be the 200 EMA...
The Canadian Dollar vs. the Japanese Yen. When a trader is unsure about trading the US Dollar, the CADJPY is often determined to be a suitable replacement. However, the historically higher yield of the Canadian dollar in the past has made the CADJPY more sensitive to market wide sentiment changes than the USDJPY. Also, Canada’s large amount of energy exports, most notable oil, causes it to be affected by crude oil prices.
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