The pair CADJPY is experiencing some reverse after hitting the support. This pair also got stuck in the bearish trend for a while. Do you think that it’s time for a long-term bull back from this pair. I hope it will climb higher with the green arrow appears and the green dots-line seems to be expanding.
Good morning!
Well, based on my analysis of this pair two years ago,
my forecast has come true, as the 94.00 level has
held and we are in a downtrend which, if repeating
the one in 1997, could target a level as low as 68.00:
https://www.forexcrunch.com/cadjpy-a-yen-cross-that-is-ripe-for-the-picking/
awesome, now i can trade long into this
PS: that low was also the low in the great financial crisis of 2008-2009,
and the way Yen pairs are going at the moment (with the Nikkei 225
leading the charge lower), I would say that this pair will continue lower
without too much in the way of obstacles, with some residual resistance
from large positions.
Good for you!
Just be aware of the longer term picture, that is all 
Yes, I still watch this pair closely with any market information.
And for any one who pays attenttion to this pair. This pair seems to move up and up.
Two issues here, I think (just my opinion):
-
CAD’s bull potential is heavily dependent on an
unstable and unproven ‘bull correction’
from US crude oil;
-
risk trends turning to deleveraging of indexes
with the Nikkei225 preparing for a serious
downturn, against which the BoJ is powerless.
These forces are larger than any BoJ intervention
and once the Nikkei225 truly falls (which it has
already begun to do) then all Yen pairs will
follow, regardless of individual currency
couplings, whether CadJpy, GbpJpyy, EurJpy,
NzdJpy, UsdJpy, etc.
Yes, I had considered these factors, and waiting for more technical signals to sell the pair. And actually it had fallen deeply after my post. Thanks you for your admire. I really appreciate that.
That’s fine …
It is a difficult thing, being right
in Forex trading, especially short
term, and that is why I switched to
long-term, away from the daily noise…
Good luck, and
Happy Trading.