{"id":17459,"date":"2021-10-29T06:18:00","date_gmt":"2021-10-29T05:18:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=17459"},"modified":"2021-11-01T21:01:27","modified_gmt":"2021-11-01T21:01:27","slug":"cadjpy-technical-analysis-watching-massive-sentiment-skews","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/cadjpy-technical-analysis-watching-massive-sentiment-skews\/","title":{"rendered":"CADJPY Technical Analysis &#8211; Watching Massive Sentiment Skews"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"17459\" class=\"elementor elementor-17459\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e0f53e3 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e0f53e3\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-610ef8c\" data-id=\"610ef8c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b7fe886 elementor-widget elementor-widget-text-editor\" data-id=\"b7fe886\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The Canadian dollar currency is starting to correct lower against the Japanese yen, despite a big recovery in the Canadian currency, following the extremely hawkish November policy meeting.<\/p><p>Earlier this week the\u00a0Bank\u00a0of\u00a0Canada\u00a0warned that inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than expected, causing the Loonie to briefly rally.<\/p><p>The central\u00a0bank\u00a0noted that it now forecasts that annual inflation rates will continue to rise through the rest of year, averaging 4.75 per cent, which is up from its previous forecast of 2.4 per cent.<\/p><p>According to the policy statement supply chain issues have pushed up costs for companies and limited the supply of in-demand goods. The\u00a0bank\u00a0now expects the worst of supply problems will come to a halt at the end of the year.<\/p><p>From a technical perspective, the <a href=\"http:\/\/bit.ly\/2RICjgG\" target=\"_blank\" rel=\"noopener\">CADJPY<\/a> pair is one of the most interesting on the foreign exchange market, due the fact that a huge bearish price pattern has been invalidated<\/p><p>The price has now come down to the head of the head and shoulders pattern, which is pointing to a potential 500-point breakout. This is interesting because traders are wholesale bearish despite the breakout.<\/p><p>Retail sentiment data currently shows that there is a major one-way bearish skew towards the CADJPY pair right now. The ActivTrader Market Sentiment tool shows that some 97 percent of traders are bearish towards the CADJPY pair right now.<\/p><p>This is very encouraging for those finally looking for a breakout in the CADJPY pair to hold out. Retail traders are often on the wrong side of the trend, so it could mean they are about to get crushed.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f8c7cc5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f8c7cc5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c2f6dd6\" data-id=\"c2f6dd6\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63b73eb elementor-widget elementor-widget-image\" data-id=\"63b73eb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2RICjgG\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"450\" height=\"169\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/10\/CADJPY-CHART.png\" class=\"attachment-large size-large wp-image-17463\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cdeea8a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cdeea8a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ac1b85e\" data-id=\"ac1b85e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-260c848 elementor-widget elementor-widget-text-editor\" data-id=\"260c848\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>CADJPY Short-Term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that the CADJPY pair has formed a fairly sizable, inverted head and shoulders pattern, which was activated last month after the price moved above the 91.30 level.<\/p><p>Looking closer at the pattern and measuring from neckline to head, it indicates that a 150-point move will take place, causing a rally towards the 93.00 resistance level. For the record, the pattern appears to have reached its target now.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0cc0e5d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0cc0e5d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-aa78f1f\" data-id=\"aa78f1f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9d18387 elementor-widget elementor-widget-image\" data-id=\"9d18387\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2RICjgG\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"560\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/10\/CADJPY-4H.png\" class=\"attachment-large size-large wp-image-17464\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2eb7921a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2eb7921a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-29c244c7\" data-id=\"29c244c7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-75e25524 elementor-widget elementor-widget-text-editor\" data-id=\"75e25524\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2RICjgG\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ae0131b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ae0131b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-21cda6b\" data-id=\"21cda6b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1033b13 elementor-widget elementor-widget-text-editor\" data-id=\"1033b13\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>CADJPY Medium-Term Technical Analysis<\/strong><\/p><p>Looking at the daily time frame the CADJPY the overriding theme is a massive head and shoulders pattern that was invalidated recently, after bulls cracked the 91.00 level.<\/p><p>This pattern strongly indicates that a huge 500 point price move towards the 96.00 area could be forthcoming. Overall the price movements around the 91.70 to 91.00 price range will decide.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-58bc4d4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"58bc4d4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-e434e68\" data-id=\"e434e68\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-257d553 elementor-widget elementor-widget-image\" data-id=\"257d553\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"http:\/\/bit.ly\/2RICjgG\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"936\" height=\"558\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/10\/CADJPY-1D.png\" class=\"attachment-large size-large wp-image-17465\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-33519d29 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"33519d29\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-566c3ac4\" data-id=\"566c3ac4\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2279f22a elementor-widget elementor-widget-text-editor\" data-id=\"2279f22a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"http:\/\/bit.ly\/2RICjgG\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The Canadian dollar currency is starting to correct lower against the Japanese yen, despite a big recovery in the Canadian currency, following the extremely hawkish November policy meeting. Earlier this week the&nbsp;Bank&nbsp;of&nbsp;Canada&nbsp;warned that inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[206,352],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CADJPY Technical Analysis - Watching Massive Sentiment Skews - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/cadjpy-technical-analysis-watching-massive-sentiment-skews\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CADJPY Technical Analysis - Watching Massive Sentiment Skews\" \/>\n<meta property=\"og:description\" content=\"The Canadian dollar currency is starting to correct lower against the Japanese yen, despite a big recovery in the Canadian currency, following the extremely hawkish November policy meeting. Earlier this week the&nbsp;Bank&nbsp;of&nbsp;Canada&nbsp;warned that inflation will stay higher for longer than it previously forecast and signalled that an interest rate hike may be coming sooner than [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/cadjpy-technical-analysis-watching-massive-sentiment-skews\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-29T05:18:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-01T21:01:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/GettyImages-1173527742.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"504\" \/>\n\t<meta property=\"og:image:height\" content=\"296\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/cadjpy-technical-analysis-watching-massive-sentiment-skews\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/cadjpy-technical-analysis-watching-massive-sentiment-skews\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"CADJPY Technical Analysis &#8211; 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