Possible drop for CADJPY. Price has remained under both 200 and 50 EMA indicating a short bias. Price has hit the resistance of the trend line channel as well as the horizontal resistance zone, both indicating a short bias. Small stop loss of about 40 pips and take profit of around 90 pips. FX:CADJPY
Good buy opportunity on this pair.
I have marked the entry, stop loss and take profit.
Capital risked: 1%
Risk to Reward - 1:2
Be alert and pay attention to the simplicity and similarities in the setups. Your mind is a sucker for habit so you can turn your technical analysis into one.
Happy trading all! :)
CADJPY has been stuck in this range for WEEKS. I have continued to check it's situation however it is still struggling to break 85.75 high and 84.30 low, I will continue to monitor this pair but not really any opportunities to take advantage of until it break this box. Once it does, I will wait for a retest and then enter. Patience on this one guys! Unless...