From TradingView · · 1m 20s
CAD/JPY 113.000 Vault Ahead?
CAD/JPY trading near 111.50, 111.60 with breakout target at 113.000.
In brief
CAD/JPY trading near 111.50, 111.60 with breakout target at 113.000. CAD/JPY may break 113.000 resistance or trap buyers near 111.000. Originally reported by TradingView.
CAD/JPY Trading Zone
CAD/JPY currently trades around 111.50, 111.60 with price holding above 111.00 region.
Layered Entry Strategy
Buy limit layers at 111.300, 111.400, 111.500, 111.600, 111.700, 111.800.
Market Bias
Bullish on moving average breakout but mixed fundamental environment.
Target Zone
113.000 is key resistance area for breakout confirmation.
Stop Loss
111.000 as invalidation level for trading setup.
Canadian Factors
BoC rate at 2.25%, CPI 3.0% y/y, Q2 GDP 0.8% q/q.
Japanese Factors
BoJ rate at 1.25%, Ueda on inflation targeting 2%.
Oil Connection
WTI at $97/bbl, Brent at $106/bbl affects CAD/JPY.
Global Risk
USD heading toward weekly decline with JPY strengthening modestly.
Key Events
Canada CPI on Oct 19, BoJ meeting Oct 29, 30.
Trading Zones
111.300, 111.800 for entry, 111.000 for stop loss, 113.000 for target.
Thief Mindset
Patience is weapon, risk management is armor, discipline is getaway car.
Trading Warning
Do not copy exact tp/sl; manage your own risk and capital.
Here's the gist
CAD/JPY may break 113.000 resistance or trap buyers near 111.000.
