Attachments: CAD/JPY

CAD/JPY

#201
Jan 29, 2014 4:20am Jan 29, 2014 4:20am

Brixton
| Joined Jun 2009 | Status: Trader | 351 Posts

I'm looking for shorts also. Buying off the low 92's is definitely losing momentum here,

#202
Jan 29, 2014 4:36pm Jan 29, 2014 4:36pm

pbylina
Joined Aug 2010 | Status: Trader | 692 Posts

Looking for shorts also.

#203
Jan 29, 2014 5:57pm Jan 29, 2014 5:57pm

Zappa
Joined Nov 2007 | Status: Trader | 1,981 Posts

Still liking a reversal, myself. This has already done a lot of damage to stop-losses. In an area right now that has some POWER...to the upside that is. For scalpers, you guys are right to have a short bias, though.

#204
Jan 30, 2014 7:59am Jan 30, 2014 7:59am

pbylina
Joined Aug 2010 | Status: Trader | 692 Posts

oh well, live to fight another day.

#205
Jan 30, 2014 7:10pm Jan 30, 2014 7:10pm

Ringwraith
| Joined Jan 2014 | Status: Trader | 37 Posts

Quoting Zappa

Disliked

Still liking a reversal, myself. This has already done a lot of damage to stop-losses. In an area right now that has some POWER...to the upside that is. For scalpers, you guys are right to have a short bias, though.

Ignored

New here but have been watching cadjpy for a bit. I also like it to the upside considering price attempted 38.2 and had a strong bounce. Although the 94.54 mark will be tough, break of that will prove very bullish. Key phase will be clearing 93 first.

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#206
Jan 30, 2014 8:21pm Jan 30, 2014 8:21pm

FxMaximus
| Joined Aug 2013 | Status: Trader | 171 Posts

You guys DO see the Bearish Engulfing on the MN, right? Do you see the fresh trend starting to the downside on the W1 time frame? The D1 is pulling up , but when it rolls back over, it's going to go for a long ride down. We'll see. It'll be interesting.

#207
Edited 8:51pm Jan 30, 2014 8:41pm | Edited 8:51pm

Ringwraith
| Joined Jan 2014 | Status: Trader | 37 Posts

Quoting FxMaximus

Disliked

You guys DO see the Bearish Engulfing on the MN, right? Do you see the fresh trend starting to the downside on the W1 time frame? The D1 is pulling up , but when it rolls back over, it's going to go for a long ride down. We'll see. It'll be interesting.

Ignored

You are right about the monthly and weekly timeframe looking bearish - it has also broken a rising trend line. The idea was to use enter longs above 94.54 area to continue with the BOJ wind behind its sails. However the setup should be simple looking to enter short on a breakout below 91.2

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#208
Jan 30, 2014 9:18pm Jan 30, 2014 9:18pm

pbylina
Joined Aug 2010 | Status: Trader | 692 Posts

"Bank of Canada leaves door open to rate cut"

"Analysts said the bank was about as dovish as it could be without explicitly saying it was likely to cut rates. They said remarks in its Monetary Policy Report on how the Canadian dollar was still strong, and that its strength still posed an obstacle to exports, was a green light for dollar bears."

http://www.reuters.com/article/2014/...A0L1AL20140122

#209
Jan 30, 2014 9:32pm Jan 30, 2014 9:32pm

Winston Reed
Joined Mar 2009 | Status: Hobby Trader | 4,477 Posts

Pending sell.

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#210
Jan 31, 2014 9:00am Jan 31, 2014 9:00am

Zappa
Joined Nov 2007 | Status: Trader | 1,981 Posts

Quoting FxMaximus

Disliked

You guys DO see the Bearish Engulfing on the MN, right? Do you see the fresh trend starting to the downside on the W1 time frame? The D1 is pulling up , but when it rolls back over, it's going to go for a long ride down. We'll see. It'll be interesting.

Ignored

If things were only that simple.

Enjoy these last few little sell-offs. The big move up (1,000+ pips) is about to take place.

With that said, I'll concede defeat if 88.50 is touched.

#211
Jan 31, 2014 10:23am Jan 31, 2014 10:23am

FxMaximus
| Joined Aug 2013 | Status: Trader | 171 Posts

Quoting Zappa

Disliked

{quote} If things were only that simple. Enjoy these last few little sell-offs. The big move up (1,000+ pips) is about to take place. With that said, I'll concede defeat if 88.50 is touched.

Ignored

Let it pull up on the D1 real good. A healthy pullback is what I'm looking for.

#212
Edited 11:54am Jan 31, 2014 11:34am | Edited 11:54am

Ringwraith
| Joined Jan 2014 | Status: Trader | 37 Posts

Quoting FxMaximus

Disliked

{quote} Let it pull up on the D1 real good. A healthy pullback is what I'm looking for.

Ignored

Price has been respecting the wedge thus far. I was hoping for a sustained break below 91 to confirm the bearish bias to continue, however it quickly bounced back into the top channel resistance. Would have liked to short here but I would rather wait for the new week and month to see where it is finally headed. It may prove to be a little clearer then.

Edit: No sooner said than price breaking trend line and looking to form a bullish hammer. This will prove to be very interesting next week as sustained bounce from these levels may put the bulls back in control.

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#213
Jan 31, 2014 7:32pm Jan 31, 2014 7:32pm

pbylina
Joined Aug 2010 | Status: Trader | 692 Posts

Trend is still down. Doesn't mean next week will be down week for sure. But safest and easiest thing to do is just go with the flow until market says otherwise. Will see.

#214
Feb 2, 2014 6:12pm Feb 2, 2014 6:12pm

Zappa
Joined Nov 2007 | Status: Trader | 1,981 Posts

Not real happy with the move off the bottom. This pair just looking a little too risky at this point, especially when there are better looking trades available right now. I'm out.

#215
Feb 6, 2014 9:16pm Feb 6, 2014 9:16pm