CADJPY's weekly chart shows us that last week this pair failed to break below a major weekly structure zone (81-83). This structure zone (now support) managed to keep CADJPY above it for almost 2 years between 2009 and 2011 (see blue arrows). If this support zone will hold, we have potential aggressive C entry in what could turn out to be a weekly bearish Gartley that will complete near 113 (yellow pattern).
That's still way far ahead, but even if we will consider a rally to nearest weekly structure resistance (88-90), we see potential for 600-800 pips rally in $CADJPY.
The daily chart shows also smaller bearish Bat (red) with potential aggressive C setup:
With stop loss below 79-80, you can try and trade this potential Aggressive C entry for a bearish Gartley pattern (red) and also a daily double bottom that was created last week.
If Oil will continue its bullish weekly, and therefore CAD will gain strength,
CADJPY can become a very interesting, low risk high potential reward swing trading opportunity. Tomer, The MarketZone
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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.