Hi Traders! CADJPY short term forecast update and follow up is here

Recap of Previous Forecast

On November 22nd, I shared a post on our blog titled “CADJPY Technical Analysis And Short Term Forecast.” In that post, I discussed a potential trading setup for CADJPY based on technical analysis. Now, let’s take a look at how that setup has played out since then.

My Analysis

In my previous post, I pointed out that on the H1 chart, the price of CADJPY was moving lower and had created a bearish trend. I suggested that there might be an opportunity to go short on the pair if certain conditions were met.

Since then, the price of CADJPY has indeed continued to decline, confirming the bearish trend that I identified. This is a great example of how technical analysis can help traders anticipate market movements and make informed trading decisions.

Home Trader Club

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Impact on Me

Based on my analysis and the current market conditions, I may consider entering a short position on CADJPY to capitalize on the downward trend. This could potentially lead to profitable trading opportunities for me as a trader.

Impact on the World

The decline in CADJPY could have broader implications for the global economy, especially considering the influence of these two major currencies. A weakening CADJPY could affect trade relations between Canada and Japan, as well as other international markets.

Conclusion

In conclusion, the short term forecast for CADJPY has been playing out as expected based on my previous analysis. As a trader, I will continue to monitor the market and look for opportunities to profit from this trend. Remember to stay informed and make data-driven decisions in your trading journey.