🚀 CADJPY Analysis 🚀
CADJPY is in a strong bullish trend on the 4H chart, with momentum still pushing higher. However, I’m noticing signs that the pair might be overextended 📈. While there could be a bit more upside, both the weekly and daily timeframes show price pushing into previous highs, which often leads to a retrace back to equilibrium ⚖️.
🔍 Key Levels:
I’m watching the Fibonacci 61.8% retracement for a potential pullback, with the 50% level also marked as a key equilibrium zone. I’m not looking to go long at these elevated prices—prefer to wait for a healthy retrace for a more optimal entry 🎯.
💡 Macro Consideration:
We also took a look at the NASDAQ 🧑💻, since tech stocks can impact the JPY as flows move between risk assets and safe havens. With a lower high forming on the NASDAQ, risk sentiment could shift, impacting CADJPY as well.
🗓️ It’s Monday—let’s trade cautiously and wait for the best setups! Patience pays.
Not financial advice.
CADJPY is in a strong bullish trend on the 4H chart, with momentum still pushing higher. However, I’m noticing signs that the pair might be overextended 📈. While there could be a bit more upside, both the weekly and daily timeframes show price pushing into previous highs, which often leads to a retrace back to equilibrium ⚖️.
🔍 Key Levels:
I’m watching the Fibonacci 61.8% retracement for a potential pullback, with the 50% level also marked as a key equilibrium zone. I’m not looking to go long at these elevated prices—prefer to wait for a healthy retrace for a more optimal entry 🎯.
💡 Macro Consideration:
We also took a look at the NASDAQ 🧑💻, since tech stocks can impact the JPY as flows move between risk assets and safe havens. With a lower high forming on the NASDAQ, risk sentiment could shift, impacting CADJPY as well.
🗓️ It’s Monday—let’s trade cautiously and wait for the best setups! Patience pays.
Not financial advice.
👀 🚀 BUY/SELL SIGNALS INDICATORS THAT CUT THROUGH VOLATILITY WITH PRECISION 🔥💰
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🔗 youtu.be/N1ZBqc4VA3U
👀 👉Join Our DISCORD For MORE Trade Ideas & Info:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👀 🚀 BUY/SELL SIGNALS INDICATORS THAT CUT THROUGH VOLATILITY WITH PRECISION 🔥💰
🔗 youtu.be/N1ZBqc4VA3U
👀 👉Join Our DISCORD For MORE Trade Ideas & Info:
🔗 discord.com/invite/PcBeCdwVQq
🔗 youtu.be/N1ZBqc4VA3U
👀 👉Join Our DISCORD For MORE Trade Ideas & Info:
🔗 discord.com/invite/PcBeCdwVQq
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.