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SYMBOL
LAST
BID
ASK
HIGH
LOW
NET CHG.
%CHG.
SPREAD
SPX
S&P 500 Index
6699.37
6699.37
6699.37
6729.80
6681.48
+67.18
+ 1.01%
--
DJI
Dow Jones Industrial Average
46946.40
46946.40
46946.40
47176.14
46817.10
+387.94
+ 0.83%
--
IXIC
NASDAQ Composite Index
22374.17
22374.17
22374.17
22521.59
22316.63
+268.82
+ 1.22%
--
USDX
US Dollar Index
99.620
99.620
99.700
99.680
99.560
+0.030
+ 0.03%
--
EURUSD
Euro / US Dollar
1.14943
1.14943
1.14951
1.15073
1.14863
-0.00111
-0.10%
--
GBPUSD
Pound Sterling / US Dollar
1.33056
1.33056
1.33065
1.33195
1.32950
-0.00130
-0.10%
--
XAUUSD
Gold / US Dollar
5033.77
5033.77
5034.22
5034.14
4994.59
+27.71
+ 0.55%
--
WTI
Light Sweet Crude Oil
94.706
94.706
94.741
95.445
92.796
+1.473
+ 1.58%
--
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Urek Mazino 
@Osaghae CeAnyway, your setup sounds good
Osaghae Ce 
EuroTrader 
Urek Mazino
@Osaghae CeBut do you have a specific rule like "you need at least two confluences to enter"?
Osaghae Ce
I think the London session has opened in my side for the now buh am still gonna wait for ur call @Euro Trader
Osaghae Ce
EuroTrader
EuroTrader
@Osaghae CeYou are welcome man, let me look for a chart example so you can understand it better .
Osaghae Ce
Osaghae Ce
it has start pushing up a bit
Urek Mazino
Urek Mazino
@Osaghae CeBut if it's sluggish or wicks down and doesn't surge strongly after retesting, then I recommend waiting a little longer
EuroTrader
EuroTrader
@Osaghae CeAlright, this is what I'm explaining to you, notice how price used down after touching the 50%
EuroTrader
Osaghae Ce
Urek Mazino
@Osaghae CeBecause London sometimes fakes the first move of the session before the real one comes out bro
EuroTrader
Urek Mazino
Do you trade XAU?
Osaghae Ce
Osaghae Ce
- All
- Russia-Ukraine Conflict
- Middle East Flashpoint
CADJPY Faces Reversal Risk Near 117: Sellers Target Intraday Breakdown
Summary:
The CAD/JPY market is trading around 116.8–117.1, after a strong rally earlier this month. Recent weak Canadian employment data has pressured the Canadian dollar while safe-haven demand has strengthened the Japanese yen...
TRADING
116.350
Entry Price
115.850
TP
117.000
SL
116.393 +0.186 +0.16%
0.0
Pips
Flat
115.850
TP
Exit Price
116.350
Entry Price
117.000
SL
Overview
On March 16, 2026 (GMT+7), CAD/JPY is fluctuating close to 117.0, remaining near recent highs after gaining more than 4% over the past month. The pair’s earlier rally was driven mainly by strong commodity markets and overall risk-on sentiment in global financial markets.
However, recent macroeconomic data from Canada has introduced new uncertainty. Canada unexpectedly lost 83,900 jobs in February, pushing unemployment to 6.7%, which significantly weakened investor confidence in the Canadian economy. This data reduced expectations for additional interest-rate tightening by the Bank of Canada, limiting support for the Canadian dollar.
At the same time, the Japanese yen tends to strengthen during periods of market uncertainty because it is considered a safe-haven currency. When global risks increase such as geopolitical tensions or economic slowdown fears capital often flows into the yen.
As a result, the recent CADJPY rally is beginning to show signs of exhaustion as traders reassess the macro outlook for Canada and global risk sentiment.
Market Sentiment
Market sentiment for CADJPY has shifted from strongly bullish to cautiously bearish in the short term. The weaker Canadian employment data has significantly reduced expectations of aggressive monetary tightening from the Bank of Canada, which weakens the CAD’s yield advantage.
Meanwhile, global investors remain cautious due to geopolitical risks and economic uncertainty. When markets become defensive, carry-trade currencies like CAD often lose momentum while safe-haven currencies such as JPY gain demand.
Institutional traders appear to be reducing long positions near recent highs, particularly around the 117.20–117.40 liquidity zone, where profit-taking has begun to appear.
This shift in positioning suggests that the market may enter a short-term correction phase before deciding whether to continue the broader uptrend.
Technical Analysis
On the M15 timeframe, CADJPY is consolidating just below the 117.20 resistance zone, which has acted as a strong supply area during recent sessions. The market structure shows a potential double-top formation, indicating that bullish momentum is weakening.
The Bollinger Bands (20,0,2) show price touching the upper band before pulling back toward the middle band. This behavior often signals the beginning of a corrective move after a strong bullish impulse.
The Ichimoku Kinko Hyo (9,26,52) indicates that price is losing momentum near the Tenkan-sen while approaching the Kijun-sen equilibrium line. If price falls below the Kijun-sen, it could confirm a shift toward short-term bearish momentum.
Meanwhile, the Stochastic Oscillator (5,3,3) has crossed downward from the overbought region, suggesting that sellers are beginning to regain control after the recent rally.
If CADJPY breaks below 116.60, the next downside liquidity zone could appear near 115.80–115.50, which aligns with previous intraday support areas.
Trading Recommendation
Entry: 116.35
Take Profit: 115.85
Stop Loss: 117.0
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