[FOREX TIP] CAD/JPY Daily Price Forecast – 26th March 2020

CADJPY produced two consecutive bullish daily candles. The H4 chart shows that the price has been having a bearish correction. A level of flipped support has been holding the price. If the level produces a bullish reversal candle, the buyers may go long above yesterday’s highest high. Let us have a look at the H4 CADJPY chart.

This trade idea was generated by our powerful Elite Swing Trader System on an H4 time frame.

CAD/JPY Daily Price Forecast – 26th March 2020

The H4 chart shows that the price has been heading towards the North with good bullish momentum. It had a rejection at the level of 78.360 and produced a bearish engulfing candle closing within the level of 77.535. The price reacted earlier at this level. Thus, it may work as a level of support and produce a bullish reversal candle. If it happens, the buyers may go long above the level of 78.360. Let us have a look at the summary of the trade…

• Buy Limit:  77.106
• Stop Loss: 76.190
• Take Profit: 78.396

The Forex market has been having less liquidity in recent times. Covid-19 may be the reason. Traders are advised to trade cautiously. Some pairs may make an abrupt massive move. It is best to trade with a smaller lot than the usual as far as intraday trading is concerned. Things have been crazy lately all over the world. The Forex market has been sluggish too. We do not know how long it remains like this. We can only hope that everything gets back to normal. The World moves at its own pace again. Wishing you all good health and all the luck.

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The post CAD/JPY Daily Price Forecast – 26th March 2020 appeared first on Advanced Forex Strategies.

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[FOREX TIP] USD/JPY Daily Price Forecast – 25th March 2020

CADJPY produced a bearish reversal candle on the daily chart yesterday. The price has been on consolidation on the H4 chart. A flipped level of resistance has already produced two Doji and a bearish engulfing candle. Thus, the sellers may get an opportunity to go short in the pair. Let us have a look at the H4 CADJPY chart.

This trade idea was generated by our powerful Elite Swing Trader System on an H4 time frame.

CAD/JPY Daily Price Forecast – 24th March 2020

The chart shows that the price upon finding its resistance at the level of 77.600, produced a bearish engulfing candle and made a strong bearish move. It found its support at the level of 75.925 and produced two bullish candles consecutively. The first candle came out as a bullish inside bar. The level of 76.725 has been working as a level of resistance, which has produced three bearish reversal candles. If the price heads towards the South and makes a breakout at the level of 75.925, the price may head towards the level of 74.410.

Let us have a look at the summary of the trade

• Sell Stop: 75.960
• Stop Loss: 77.014
• Take Profit: 74.266

Take the profit level in this trade setup is daily support. It is double bottom support too. Thus, the price may make a bullish reversal at the take profit level. The sellers may consider taking out the whole trade. However, if the level is breached by the daily chart, the price may remain bearish in the coming days. We are to wait for that breakout. Meanwhile, let us wait for a breakout at consolidation support.

We wish you good luck and good profit for this trade idea. For more trade ideas, join the Price Action Society…

If you like our analysis and would like to receive 3 to 7 trade ideas per day, then
Click here to learn more about the Price Action Society.

The post USD/JPY Daily Price Forecast – 25th March 2020 appeared first on Advanced Forex Strategies.

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