CADJPY: BEARISH Market Analysis! Watching for CONTINUATION
Hello, everybody and welcome to Cybernetics Trading Lab, today we are going to analyse the CADJPY, translating the market information by using a full technical analysis on different time frames, giving you a personal opinion about the next most likely market movement and helping you to spot and manage market opportunities.
Top Down Technical Analysis:
Since a while, this market has been moving and rising up inside a big corrective structure, but enable to break the high of September, it gave us a clue of losing of momentum, confirmed in lower time frame by the formation of an expanding structure broke to the downside.
The impulsive phase looks started already, breaking the main HTF corrective structure and currently consolidating, eventually for the next impulsive phase.
When, where and why would we step into the market?
The general bias for JPY pairs, is still quite bearish according with our view, then we will be looking only for short positions.
The market reached the bottom of the structure and if the further breakout and continuation will be confirmed, we will definitely enter CADJPY, targeting the next level at about 102.500.
However, we don’t exclude the possibility of reverse, so with no confirmation, no entry. Just another little tips, CAD news on the calendar, so be carefully If you are entering this market!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
Top Down Technical Analysis:
Since a while, this market has been moving and rising up inside a big corrective structure, but enable to break the high of September, it gave us a clue of losing of momentum, confirmed in lower time frame by the formation of an expanding structure broke to the downside.
The impulsive phase looks started already, breaking the main HTF corrective structure and currently consolidating, eventually for the next impulsive phase.
When, where and why would we step into the market?
The general bias for JPY pairs, is still quite bearish according with our view, then we will be looking only for short positions.
The market reached the bottom of the structure and if the further breakout and continuation will be confirmed, we will definitely enter CADJPY, targeting the next level at about 102.500.
However, we don’t exclude the possibility of reverse, so with no confirmation, no entry. Just another little tips, CAD news on the calendar, so be carefully If you are entering this market!
If you enjoy this trade idea, please support our work with a thumb up and don’t forget to follow our social medias!
Sincerely,
Cybernetics Trading Lab
DISCLAIMER
Please note the views are not investment advice and should be used only for educational purpose.
