Elevator down escalator up. Yes, CADJPY has reached to an institutional key level 109 where the super strong rejection level starts. This is the 3rd touch on this exact level where reversal might happen. (for the sake of all traders :)))). BIG BUT, since its the 3rd touch we could see a spike up (109.517) to grab LQD and fall. Aggressive traders or big pocketers can enter from there. As wisely the low risk takers can wait until the up trendline breaks down and enter after pullback.
Trade on your own risk.
Small lot saves the day.
Trade on your own risk.
Small lot saves the day.
Comment:
Price has arrived exactly where I expected. Due to todays news on CAD 20 minutes ago, it has a strong bullish momentum now.
Trade closed: stop reached