CAD/JPY Bearish Setup Near Resistance – Rejection Incoming?

23 Mar

📉 Trend Analysis:

The pair is in a downtrend, confirmed by the descending trendline.

Lower highs and lower lows indicate bearish momentum.

📌 Key Levels:

Resistance Zone (104.5 - 106.0): Marked in purple, this area has previously acted as support and is now a key resistance zone.

Support Area: Around 100.0 - 101.0, a psychological level where price may find demand.

📊 Trade Scenario:

Bearish Rejection Expected: Price is approaching the resistance zone and trendline confluence. If rejection occurs, a downward move towards 100.0 is likely.

Break Above? If price breaks above the resistance zone and trendline, bullish momentum could invalidate the bearish setup.

🔍 Conclusion:

Watching for rejection near 105.0-106.0 to confirm a short opportunity.

If rejection happens, next targets are 102.0 → 100.0.

A bullish breakout above 106.0 could shift momentum upwards.

1 Nis

İşlem aktif

📊 CAD/JPY Update: Price dipped to 103.400 before bouncing back to 104.603. This rejection suggests buyers are stepping in, but the key resistance zone remains intact.

⚠️ What's Next? If price fails to break above the trendline and resistance area, we could see another bearish move. A clean break above 105.0-106.0 would invalidate the bearish setup.

Watching closely! 👀📉

5 Nis

İşlem kapandı: hedefe ulaştı

✅ CAD/JPY Hit 101.83 – Over Half the Move Completed!

Smart and sharp traders already locked in profits 💰. The market respected the analysis beautifully, and those who stayed alert and acted on the opportunity got rewarded.

📌 This is a reminder: Opportunities favor the active. Traders who stay ready and adapt quickly are the ones who consistently win.

Well played if you caught this move! 🧠⚡