Moving down to the 1 Hour timeframe, we see price has begun moving into the Kumo and to the far right, we see the Kumo has begun pointing down but it is still green which leads me to believe that price is still Bullish but Retracing.
Moving down to the Daily timeframe, with the Ichimoku overlay, we see price is retracing but I have shaded the Buy Stops that are resting above the past weeks' highs.
I forecast CADJPY long this week. Using ICT Concepts, I think it probable that price will move lower initially, perhaps the first part of the week in order to fill fair value gaps that can be seen on the 15 minute timeframe.
There's not much in the way of this move from what I can see. Yen continues to be the weakest currency in the G10 (for now, BoJ look set to intervene at some point this year) and for the short term I expect this to continue to meet the descending long-term trendline that's formed. I'll be looking for sells around 115 with any LTF confirmation, but until then I'm...
-price is floating withing the TL -no clear direction -would be interested in shorts at the UTL -weary of longs as if it reaches purple zone ill question strength of bulls
The cross between the Canadian Dollar and the Japanese Yen is seen as a strong substitute for the USD/JPY pair when a trader is wary of trading the US Dollar. However, CAD/JPY is historically more sensitive to changes in market-wide sentiment than USD/JPY due to the historically higher yield attached to the Canadian Dollar. Further, the 'Loonie' - as the Canadian...
in wyckoff theory and view in weakly time and daily time frame is in accumulation mode.
Keep it simple, back to basics.... whatever you want to call it, this chart is saying everything we need to know. A series of LH and LL or a break of structure - either way the message is clear. You can go short right away, or on break of trendline or the s/r zone - depends on your trading style/risk tolerance. Being prepared for the unexpected is a good idea in...
This weekly hit will also confirm this trend and would likely go down after its 3rd hit. With everything that’s happening on the lower time frames such as the daily and 4 hour I would say it is likely to drop back down between the 106 and 107 level This isn’t financial advice
The cadjpy has finally started its potential long term bearish move after finally breaking the 110.900 level which is crucial. It then came back to the same level not being able to break it and potentially coming back down back to the 110.210 level which will most likely break and hit the nest leave which is 109.700. Fundamentally, I believe that the poor CAD...
*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.
As we can see CADJPY took support from well respected trendline and is breaking resistance so what we should anticipate is the continuation to the upside. once we see some sort of bullish confirmation we can look for buying opportunities. Target - 111.596
As you can see, the price took the sell-side liquidity and had a bearish reaction, in addition, we can see the price created the bullish breaker block and FVG. Now, we can expect the price to move higher to collect the buy-side liquidity, for that, it may happen from here or retrace more to a bullish order block which formed on the 50% level Fibonacci. 💡Wait...
Hello,Friends! It makes sense for us to go long on CAD/JPY right now from the support line below with the target of 111.101 because of the confluence of the two strong factors which are the general uptrend on the previous 1W candle and the oversold situation on the lower TF determined by it’s proximity to the lower BB band. ✅LIKE AND COMMENT MY IDEAS✅
The uptrend of CADJPY has been break. They are chances of the market to change the direction to downtrend.
I like how we have had a good impulse downwards, this shows we have a good sell coming up
CADJPY is trading in Bearish trend after breaking its last HL with no divergence at Bottom secondly at 0.618 fib Resistance AND At horizontal resistance and making LH place Short with risk defined above Last Lower high
CADJPY created a rising wedge which is a reversal pattern. Moreover, there was a Bearish Divergence on RSI indicator at Resistance level indicating a solid confirmation of trend reversal and the break of HL is a further confluence of sell setup.