forexTrdr

forexTrdr CADJPY - RSI BULLISH DIVERGENCE

Long
FX:CADJPY   Canadian Dollar / Japanese Yen
Afternoon traders,

Enjoying this setup in Canadian dollar versus Japanese yen and the ascending channel which the pair have been in since mid May. We have had higher lows in RSI whilst price has been setting new lows pointing to a bullish divergence signal for the pair to move higher within the ascending channel as per our trading view chart.

The setup allows for great risk reward with stop loss just below the ascending channel support whilst allowing us to target 83.5 on the upside.

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Good luck trading

from the Team at forexTrdr

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