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Cadjpyanalysis

CADJPY - 1H PROJECTIONDISCLAIMER: The Company accepts no accountability or obligation for your trading and speculation results, and you consent to hold the Company innocuous for any such outcomes or misfortunes. We are not financial advisers or account managers; We are Forex traders. The recordings on this channel are rigorously for educational and amusement purposes. Trading Forex implies dangers, and you can lose all your venture ; consequently, you exclusively must take a chance.
Long
by Azif123
CADJPY Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CADJPY (Monthly, Weekly, Daily for direction and 4H for entry) for Week 44 - 26 Oct M > Market is moving in a downward channel. Price faced rejection at resistance level of trend line creating double top and moved down. W > Price dropped to test weekly support and faced rejection. This support also coincided with 0.786 Fib level on weekly bullish impulse. D > We saw an over extended M formation and expected price to pull back to test the neck before continuing further to the downside. Price broke through the level to rise beyond 0.618 Fib level on last bearish impulse. Price reversed after facing rejection from daily supply zone. We observed two W formations, one got completed last week and we can set neck of second as our next target. As per COT CAD saw addition of few Long but major Short positions reducing net positions. CXY was weak during the said period but it improved its position last week. JPY saw closure of Long and addition of major Short positions reducing net positions further however N-R added few Long and closed major Short positions. JXY during the said week ended in a Doji but improved its position last week. 4H > After completing first W formation price pulled up to create double top at resistance level and dropped to face rejection at support, facing rejection and creating a double bottom. Price is now testing demand zone and we expect rejection to the downside. Pair Correlation > CADJPY has positive correlation with EURJPY, CHFJPY and GBPJPY and negative correlation with USDCAD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Short
by AP17FX
SELL CADJPY!!! CADJPY has been on the bull run for the past 3 days. this may be the time that we can short this pair and close our longs in it. It has strong resistance at this point. So, we will be taking a short if and only if prices close below this resistance level and follow the next day the downtrend. So maybe tomorrow we will be taking the short for the target of 77.700 approx. It will be a short profit position because CADJPY is still bullish biased!!! PS - If you have longs open then close it !!!! FOLLOW US FOR MORE !!!!
Short
by ng_forex