JPYCAD trade ideas
CadJpy Trade IdeaA pair that correlates with EJ is CJ. If both pairs can pullback to retest the structure flip after respecting the range then we can expect both pairs to crash to the downside to continue the range between 106.140 and 103.450.
Alert at JPYThis Week CADJPY will move in this range. On Monday CADJPY will be bullish but it will shift to bearish when H4 takes turn pass the Simple Moving Average 5.
CADJPY View!!In the long-running battle between stocks and bonds, the latter is usually right when it comes to the economy. Given that oil and the yen are also flagging trouble, the signs are hard to ignore.
In early August, when US yields fell, it looked like a reaction to a flight-to-safety as some air came out of the AI trade and megacap tech stocks but when those rebounded, yields didn't. Now they've fallen even further and signal a hasty Fed rate cutting cycle. Now Powell may front-load rate cuts in an effort to stick a soft landing but that path is perilous.
CADJPY Will Fall! Short!
Take a look at our analysis for CADJPY.
Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a significant resistance area 107.379.
Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 106.107 level.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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Ride that Risk-on!Fundamentals & Sentiment
CAD:
Bullish oil inventory data yesterday. Generally ok US data (GDP, Claims, etc) today. Risk-on sentiment continuation from China stimulus.
JPY:
Bearish Internals, CFTC.
Technical & Other
Setup: TC(RTF)
Setup timeframe: 1h
Trigger: 15m
Medium term: Up
Long-term: Down
Min target: 3R
Risk: 0.27%
Risk R: 0.5R
Main risk: buying into DMA(50) at 107.40. If holds above, consider adding.
2024/09/26 - GSCADJPY M30 there is a GS forming.
Horizontal Support/Resistance, Diagonal Support/Resistance
Divergence
M30
GS
MCC
CADJPY short moveIf price should drop below our support level then i will be expecting more drop in price.
#CADJPY 1HCADJPY (Canadian Dollar / Japanese Yen)
Timeframe: 1-Hour (1H)
Pattern: Rising Wedge
A rising wedge pattern has emerged on the 1-hour chart of CADJPY. This bearish formation typically signals a potential reversal or a slowdown in the prevailing uptrend. The wedge is formed by converging trendlines, with higher highs and higher lows, indicating a weakening upward momentum.
The rising wedge pattern suggests that although the price is still moving higher, buyers are losing strength, and a breakout to the downside could be imminent.
Forecast: Sell
The current forecast favors a sell opportunity, as the rising wedge often leads to a bearish breakout. A breakdown below the lower trendline of the wedge would confirm the reversal and signal a potential decline in price.
Technical Outlook:
Resistance Level: The upper boundary of the wedge, where buyers may find it difficult to push the price higher.
Support Level: The lower boundary of the wedge, which, once broken, could trigger further downward movement.
Key Levels to Watch: A confirmed break below the wedge’s support level could accelerate selling pressure, leading to lower prices.
Traders should wait for confirmation through signals such as bearish candlestick patterns or volume increases on downward moves before entering short positions.
Keep an eye on market sentiment and relevant news, especially regarding oil prices (affecting CAD) or safe-haven demand for JPY, as these could influence price action in this pair.
CADJPY: Will Keep Falling! Here is Why:
Looking at the chart of CADJPY right now we are seeing some interesting price action on the lower timeframes. Thus a local move down seems to be quite likely.
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CADJPY in BULLISH TRENDLets drive the trend,there is no any divergence here on H1 and H4 timeframe.no any reversal pattern occur price action making simple HHs and HLs
CADJPY BUYThe 4 HTF has completely broken resistance indicating further bullish movement. For those waiting on buy entries i have drawn a couple scenarios.
CADJPY Waiting for price to test break of structure then will take buys provided the price action at that area shows bullish. Target shown on chart
CAD/JPY For Bullishyou can go long now
- price break current resistance at red arrow
- price has Gulfing Bullish H4 Candle
have fun :)
CADJPY Is Very Bearish! Short!
Here is our detailed technical review for CADJPY.
Time Frame: 1h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The price is testing a key resistance 106.050.
Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 105.642 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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$CADJPY bullish ?Higher time frame shows cadjpy having a reversal from a bear market. It is in an area of interest right now, from which it could use up for its momentum. Looking for a buy.
Anyone has any similar thoughts/ideas?
Analysis of CAD/JPY – Potential Reversal and Bullish MoveOn this CAD/JPY daily chart, we can observe the formation of a potential double-bottom reversal pattern near the 102.86 support zone. The price has rebounded from this area, indicating strong buyer interest and a possible shift from the previous downtrend. This pattern suggests a possible bullish reversal if confirmed with a breakout above the recent highs.
Key Levels:
Support: 102.86 – This zone has been a strong demand area and has provided solid support for the price.
Resistance: 115.76 – The first resistance to break is at 107.23. If this level is breached, we could see further upside toward 115.76.
Technical Indicators:
Moving Average: The chart includes a moving average (blue dotted line), which is currently slightly above the price. If the price manages to break above the moving average, it could signal a continuation of the bullish momentum.
Momentum Indicators: The lower panel shows the TDIGM oscillator indicating a positive upward curve. This suggests that momentum is gradually shifting in favor of the bulls. If this trend continues, it would further confirm the potential for a bullish reversal.
Bullish Scenario:
If the price breaks above 107.23, it would confirm the double-bottom pattern and could lead to a strong upward move toward 115.76, providing a solid risk-to-reward ratio for long positions.
Entry: A possible long entry could be placed just above 107.23, confirming the breakout.
Stop-Loss: The stop-loss can be placed just below the support level around 102.86 to manage risk effectively.
Target: The first target could be set near 115.76, offering a favorable risk-to-reward ratio.
This setup is showing potential, but as always, wait for confirmation before entering any trades.
Bearish Scenario:
If the price fails to break above the 107.23 resistance and falls back toward 102.86, this would invalidate the bullish setup and could lead to further downside, potentially breaking the support and heading lower.
Happy trading!
CADJPY Strong buy at the bottom of the 2-year Channel UpLast time we gave a signal on the CADJPY pair (July 09, see chart below), we got the sell we wanted, as a brutal collapse started straight after:
This time we get a strong buy signal as the price is rebounding after a Double Bottom on the Higher Lows trend-line of the 2-year Channel Up. This is similar to the January - March Double Bottom, which until now, has been the strongest long-term buy signal on the pair.
Once the price breaks above the 1D MA50 (blue trend-line), we will have the buy confirmation we need to target the 0.9 Fibonacci level (like June 23 2023) at 117.100.
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CAD/JPY Day Trading analysisOn CAD/JPY, it's nice to see a strong buying reaction at the price of 104.940 .
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
Uptrend and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading
Dale
