CAD/JPY

[RVD Support 8]

This Thread is made for the discussion of GBP versus JPY.
You can give here forecasts, explanation about the market And Technical Analysis.

[topman]

CADJPY,H1
Date 2013.06.26
Time 12:00
-------------------
R3 94.5427
R2 93.9603
R1 93.6557
Pivot 93.0733
S1 92.7687
S2 92.1863
S3 91.8817
----------------


Pattern : ABCD Bullish.
Description : This pair is still in bullish trending and standing above pivot point, pattern will be invalid after the price can breakdown 92.797 which is the D wave low there.
Expectation : The price will reach to 93.707.

[saiansh23]

Last break of 93.52 has the continuation and Now we will see a rise towards 95.10 area before pair would put under pressure
to test the important support 92.00 and break there would be good enough to the last decline towards possible 84.50
area Pair is capped with a downtrend line which put it under immense pressure And friday it test the trend line
and then could not breached the 94.20 area This could be earlier sign of weakness and if we break below 93.50
area again then I would think pair is already fail the test ot trendline and now will test 92.00 area soon and only
a break below there would confirm the price action towards the 84.50 area And short enteries will triggered
Check the chart
Regards

[topman]

The trend tunnel shown a bullish signal so we have a bullish setup here. Our entry point could be strong after the price can defeat barrier 94.617 on hourly chart, then we hunt for 95.050 as the first target and 95.641 as the second target. We have to exit from bullish setup after the price defeat support 93.633.

Chart :

[saiansh23]

Price has currently been below the upper boundary and We would like to wait and see if it holds here or get through this and creates new long opportunity Because I am expecting a one rise towards the 96.50 as cad/jpy is the only currency who is the weakest amongst all the jpy crosses



regards

[saiansh23]

Now the next target for wave c remains 96.11 So we should expect the test of the area Before We will see possible
pressure And Now i expect 94.80 To protect the downside to move towards 96.11 But There is no long opportunity
But you should watch the break of 94.80 on daily which should be first indication of possible breakdown of pair
And first indication of top in place
Regards
Check the chart

[ispgamer]

after exit above the cloud as entering bullish zone one bullish bar heiken ashi is still becoming small bar it means this bullish is still not strong enough because deceleration of bullish is being made by bending downward chinkou span then bullish will fail to be continued but only becoming sideway movement above 96.50 because both kijun sen and down kumo cloud are moving flat