CADJPY currently at level of previously broken resistence channel support which is high interaction area for many week / months.... im still cross on crossed fingers but I think it will be Long from here.....
The ellipse shaped area has almost same Candle patterns with respect to Pips/Days, around 200 EMA, Last time it was for bottom 1.13 and it continues from there...but this time will this bull continue or it will fall hard from here??? that is big qustion....
USDCAD , technically near at resistence zone but if it pass through it, more merciless upside awaiting....but breakdown could make collapse to atleast mid-channel or even to touch lower channel border..
If its really in uptrend then it will test the break of upside sloped channel and then go back inside the up-slope channel and move gradually higher, if it fails to sustain this up-slope channel we can go way below 1.16..potentially below 1.15 area...
Fundamentally Euro zone politics may get little turbulence
On 4H Charts it looks that upon break of this Flag it will continue down trend with targets of 0.85-0.84
Stops should be 0.898
Note - Enter trade only upon break of Flag on Closing basis only. GL
On CADJPY, nice opportunity , its Rising wedge on uptrend in 4H Charts.
Stops should be around 90.90
Profit booking at 90.20
Entry around top trend line but with caution( Approx around 90.70-90.75 if you get that price)
Respective of fibonacci retracement to 50% in monthly charts , we can expect a little retreat from profit booking.
We can safely short this for 100 pips from 90.6
Stop loss will be above 91.00
It has made low around 0.7192 and moved above 0.72 despite stronger USD at that time.
Also, it made support from Exponential Moving Average of 144 Days ( EMA 144 ) on D1 Chart
To make more support, it also coincides with fibo retrecement of 50% from top of 0.75.
Though, it might take few days to make momentum towards upside but I think here is a sweet buying...