A reverse is happening with CADJPY?

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:


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.

Today, the pair continues to inch up, the green arrow still rocks the way. My buy order still wins

Good for you!

Just be aware of the longer term picture, that is all :slight_smile:

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):

  1. CAD’s bull potential is heavily dependent on an

    unstable and unproven ‘bull correction’

    from US crude oil;

  2. 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.