A breakout spotted in CADJPY daily timeframe!!We now have a clear trending market in CADJPY from the daily chart. It’s a good time to position for a buy opportunity. I’d be monitoring price for a shift in momentum so as to buy
About Canadian Dollar / Japanese Yen
The Canadian Dollar vs. the Japanese Yen. When a trader is unsure about trading the US Dollar, the CADJPY is often determined to be a suitable replacement. However, the historically higher yield of the Canadian dollar in the past has made the CADJPY more sensitive to market wide sentiment changes than the USDJPY. Also, Canada’s large amount of energy exports, most notable oil, causes it to be affected by crude oil prices.
Related currencies
CAD/JPY is currently exhibiting a bearish trend structureThe CAD/JPY currency pair is currently exhibiting a bearish trend structure, indicating a prevailing downward momentum in its price action. At present, the pair is trading within a secondary trend near a significant resistance level, which is a critical point that could determine its next directiona
Buy Cadjpy if new high is made above current current You can wait for retracement or put buy stop above current handle. Readjust stop loss when you see 30pips profits
The Market Rewards the PatientLast week was probably one of the slowest weeks I’ve ever had. I found two setups, but neither one truly materialized. They just didn’t meet all the conditions in my plan. It was tough. I won’t pretend it wasn’t tempting to drop my rules and chase other strategies just so I could be in the market.
CADJPY Shortwe saw price creating a channel towards the top of structure and broke the area of value impulsively .
now we waiting for price to push back into the channel and give us a flag either an hourly flag or 15 min flag for entry confirmation to go short.
CADJPY Short-Term UpsideIn the bigger picture, the pair is currently inside black wave 2 or B, which is happening as a flat correction (blue ABC).
We should still have some upside in the short term.
The gray area is an interesting zone to begin looking for short trades.
CADJPY Analysis – Bearish Rejection Expected from Key ResistanceCADJPY is currently trading within a rising wedge structure and approaching a major supply zone around the 108.300–108.700 region, which previously acted as strong resistance. Price has shown consistent upward momentum, but as it nears the upper boundary of the wedge and supply area, signs of exhaus
CADJPY TRADING IN A BEARISH TREND STRUCTUREThe CAD/JPY currency pair is currently exhibiting a bearish trend structure, indicating a prevailing downward momentum in its price action. At present, the pair is trading within a secondary trend near a significant resistance level, which is a critical point that could determine its next directiona
CADJPY BUY OPPORTUNITY!Price is moving well from the H1 perspective. I anticipate a massive breakout in price to make a new high. This is a follow up to a BUY idea we published earlier from the daily timeframe. A buy opportunity is envisaged from the current market price.
CADJPY Bullish SetupHi
CADJPY has the potential to rise above 107.450, targeting two price areas of 108.056 and 108.934 for a bias of 109.688
If the price breaks active demand (dx) and falls below 105.952, then that will signal a trend reversal.
Happy Trading,
Not trading advice
Khiwe
See all ideas
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The value of the CADJPY pair is quoted as 1 CAD per x JPY. For example, if the pair is trading at 1.50, it means it takes 1.5 JPY to buy 1 CAD.
CADJPY is a minor currency pair, i.e. a popular pair that is not associated with USD. Such pairs are also called cross currency pairs.
Currencies are usually traded through forex brokers — choose the one that suits your needs and go ahead. You can trade CADJPY right from TradingView charts — just log in to you broker account. Check out the list of our integrated brokers and find the best one for your needs and strategy.