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Thread: CAD/JPY

  1. #1
    For this currency pair. Lets see that your analysis. I have a long from 112 hope it will have the ability to finally bust through 113. I have a goal of 114.70, the 38% retracement level from 125.50 down to 107.80. Im hoping the loonie can for an end of the year rally...
    Jeff

  2. #2
    I had been posting my CJ analysis in the USDCAD trend reversal thread, but I suppose a separate thread isn't a bad idea. Here's my latest analysis along with charts.

    I am a buyer lt;112 and seller gt;113. Currently from my latest from earlier this morning (111.80 gt; 113.05). USDJPY was in a ranging pattern since last Friday, taking CJ along with this, therefore there have been a number of great trading ranges in this pair. Meanwhile, USDCAD has not managed to violate parity. Once I see UJ break from its range (113.58), or UC split parity and hold that, then CJ becomes a buy and hold till at least 114.50 if not high (117).

  3. #3
    I got at 113. Looking to re-enter a long at 112.50 area, Im sure if USDCAD breaks under parity, CADJPY should break 113 and reach our goal at 114.50. On the Fundamental side, do things look good for the loonie?
    Jeff

    Quote Originally Posted by ;
    I was posting my CJ analysis from the USDCAD trend reversal thread, but I suppose a separate thread isn't a terrible idea. Here is my analysis along with charts.

    I am a buyer lt;112 and seller gt;113. Currently from my most recent from before this morning (111.80 gt; 113.05). USDJPY was in a ranging pattern since last Friday, shooting CJ with it, so that there have been many great trading ranges within this pair. Meanwhile, USDCAD hasn't been able to violate parity. Once I visit UJ break from its range (113.58), or UC split parity and maintain that, then CJ becomes a buy and hold till at least 114.50 if not higher (117).

  4. #4
    Quote Originally Posted by ;
    On the Fundamental facet, do things look great for your loonie?
    Absolutely. Trade balance came in a billion higher than quotes. Nov housing begins, PMI and employment all came in higher than expectations.

    It's been my own hunch that the sudden rate cut and standard loonie weakness has been somewhat forced by the BoC due to pressures by exchange-rate sensitive companies. USD/CAD at 91 cents going into the all-important shopping season was about to drive half the nation across the border to US malls and decimate y-o-y retail figures for Canadian companies. The oil/C$ correlation, which has been in virtual lockstep for years, suddenly goes AWOL. Oil shoots to $99, stabilizes above $90 for 2 months, and the loonie drops 1200 pips (top to bottom) from the dollar?

    Once this fear-driven dollar rally peters out, I believe that the loonie will be one of the strongest benefactors (together with the kiwi aussie). Parity giving way seems like it may happen any second, and I don't find the dollar index breaking 78, let alone 80. Value buyers have stepped in and set a floor on everything but the pound. We could see new short-term highs on CJ tomorrow (if no openings in Fukui tonight).

  5. #5
    There goes parity, examine the cease running, USD/CAD dropped 25 pips in seconds!

    Edit- make that 50 pips!

  6. #6
    Any notion bro why such a enormous drop I am just wondering in minutes I am up 100 points on cad/jpy.
    Regards
    Quote Originally Posted by ;
    There goes parity, examine the stop running, USD/CAD dropped 25 pips in minutes!

    Edit- make that 50 pips!

  7. #7

  8. #8
    Holy huge ass bar to the upside

  9. #9
    100 pips and US markets is not even open yet..wow

  10. #10
    Quote Originally Posted by ;
    any idea bro why such a huge fall I am just wondering with in minutes I am up 100 points on cad/jpy.
    Regards
    TONS of stop orders directly below parity on usd/cad.

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