RiosTrades

CADJPY Bullish Opportunity

Long
FX:CADJPY   Canadian Dollar / Japanese Yen
Using the Market Structure in the pair above we realize price closed at a degree where both sides of the battle will be in a bit of a tug of war situation. The idea of entrance ideally would be very aggressive in these circumstances but using proper risk/reward, an entry can be found in lower timeframes that allows the trader to come out with profit. Looking left of where price is at, we see price broke below a major area of support then progressed to breaking above it, telling us this swap zone has the volume and momentum to produce another impulse as result of this analysis.
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