Hello traders,
here is my newly published article on the CAD/JPY!
Let me know what you think about this pair and I hope that my analysis will offer you a new angle
with which to view it!
CAD/JPY: a Yen cross that is ripe for the picking | Forex Crunch
Happy trading!
After many weeks scratching the 94.00 wall,
this pair has finally made a temporary breach through it…
Currently it is around 94.30…
CAUTION: this rally is in anticipation of BETTER CPI FIGURES from Canada, due in about an hour…
Any sign of disappointment would lead the pair straight back under the 94.00 mark…
Likewise, meeting or exceeding expectation could rally the pair up considerably…
Hey Pip…
I’ve been wanting to chime in on this, but waited for this news.
Yep, I think this is the catalyst that will take CAD higher, across the board. Shorter term anyway.
I’m in on this one. At 94.04, going up. And yes it did.
CAD has been on the rise the last couple of months. It seems like they will be a player for the rest of the year. As opposed to last year.
We’ll see.
Mike
Welcome onboard, Mike!
I always look forward to hearing your (very sharp) insight and comments!
I [I]said I would not[/I] buy into the rally, but… blush … I bagged about 22 pips at 10k on one account
and on the other I have 5k on CAD/JPY long and 5k on USD/CAD short, both in the money for now!
Good luck getting those pips!!!
Cheers.
Happy to say I caught the big move! Saw the ascending triangle days before. Was waiting patiently for a longgg time.
I’m looking long but won’t be surprised for the market to retest
Hello NyKevin,
the CAD/JPY seems stuck under the 0.50% Fibonacci retracement level of the Dec.2013 high to Jan. 2014 bear move, at 94.94 … The rally has lost strength now, and it is Friday afternoon…
It may gap up over the weekend… we shall see.
Happy trading.
Hey kevin…
I know this is the cad/jpy thread, but, I saw another ascending triangle along with this one.
Have you seen it?
Well, it’s the gbp/jpy also. So, similar.
I’m on that train also.
Yep, and I agree with you on the retest of the level. Both actually.
And I’m sure my buddy Pip has seen the gbp one also.
Let’s play 'em smart!
Mike
CAD/JPY from 2104.09.19 (formation of Evening star in Daily time frame) is in a strong and without reformation descending trend that could experience a good price decrease. Right now this currency pair could record the bottom price of 96.162 during its descending trend that according to the formation of recent candles, it is not an ideal bottom price for ascending.
As it is obvious in the picture below between the top price of 97.810 and bottom price of 96.162, there is AB=CD harmonic pattern with the ratios of 76.4 and 127.2 that warns about the potential for ascending of the price.Stoch indicator is in saturation sell area in H4 time frame that confirms the harmonic D point and warns about changing price direction during the next candles . The first sign for starting a reformation movement and Ascending of the price is breaking the resistance of 96.462.Generally according to the formed signs in price chart until the bottom price of 96.162(R=S) is preserved, price will have the potential for ascending and reformation.
Hello traders! It is interesting to notice that in my article of almost seven months ago I had given reasons for a bearish scenario taking this pair down a fair bit… Little did I imagine that Crude Oil would come down to (currently) $33 a barrel, and that consequently CAD/JPY would drop OVER ONE THOUSAND PIPS in a very short time, down to 83!!
