AlkalineFX

CADJPY - Follow Along

Short
FX:CADJPY   Canadian Dollar / Japanese Yen
Price has broken out of the ascending trend line on the daily time frame and is now respecting a new descending trend line on the lower time frames. If you pay attention closely you will see that price has been stepping down and respecting structure due to JPY strength kicking in. I would like to see one final touch of the descending hourly trend line followed by rejections before considering my sell position.

COT Data - 78% Long

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