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CADJPY trade ideas

CADJPY Will Go Higher From Support! Buy! Please, check our technical outlook for CADJPY. Time Frame: 3h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 109.006. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 109.549 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
CADJPY: Head and Shoulders Pattern With a Sloping NecklineCADJPY: Head and Shoulders Pattern With a Sloping Neckline Technical Analysis: After the price reached an all-time high zone near 111.80 we can see the creation of the Head of our pattern. This is an ugly variation as it has a sloped neckline but it tends to perform well as a classic "H&SH" Pattern. The price is testing a strong support zone for the moment which can push CADJPY higher again as it is shown in the chart. It is very risky in the bullish scenario due to the many factors but it has to correct before it moves down more. The big trade is only down... You may find further details in the chart! Thank you and Good Luck! ❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Long
by KlejdiCuni
1
CADJPYThough we have a bearish outlook on the monthly charts, currently we are in a strong bullish correction that is printing higher highs seeking to mitigate supply zones (118).On the weekly charts we still have the same bullish bias. On the daily charts, we are in a minor bearish correction targeting the weak demand zone between 108-94 price handle. On the 4 hour we are still in a bearish correction seeking to clear disequilibrium. If the price breaks below 104 then its targeting the weekly demand.
by morrisgitau
CADJPY SELL/SHORT NOW**The Canadian dollar (CAD) surged against the Japanese yen (JPY) in January due to the yen's dramatic fall to record lows. This weakness in JPY caused all JPY pairs, including CADJPY, to rise significantly.** However, the trend seems to be reversing. The yen has begun to strengthen in February and is expected to continue this bullish momentum throughout March. **Looking ahead, analysts anticipate a potential pullback in CADJPY. The price might approach a key support level and then reverse, creating a selling opportunity of around 140 pips.** It's crucial to employ proper risk management strategies, such as stop-loss orders, to safeguard your capital during this trade. Remember, this is just a trading suggestion based on current market sentiment, and further research is recommended before making any investment decisions. Here's some additional information you might find helpful: * **Fundamental factors:** Consider economic news and events that could impact the CAD and JPY exchange rates. These factors can influence the overall trend and potentially alter the predicted pullback in CADJPY. * **Technical analysis:** Utilize technical indicators on charts to confirm the potential reversal at the support level. This can add confidence to your trading decision. * **Market volatility:** The currency market can be volatile, so be prepared for price fluctuations that might exceed the anticipated 300 pips. By considering these additional points, you can make a more informed trading decision based on your risk tolerance and investment goals.
Short
by keyshaard
cadjpy on strong support level Assalam-o-Alaikum, I want to discuss the CADJPY pair with you. The market structure is bearish on the daily chart, but there is strong support at the current level. On the H4 chart, the market structure is also bearish, and there is a chance that the market will retest the previous low and move upwards (FVG). Based on these two pieces of evidence, it seems we should consider a short-term buy on the H4 chart, and then sell after the retest. I would appreciate guidance from the senior members.
Short
by Muzammil201101001