CAD/JPY

The current selling zone for the CAD/JPY pair is at 113.553. It's a critical point where traders are eyeing potential opportunities to sell the Canadian dollar against the Japanese yen. The strategy outlined here suggests multiple take-profit levels: 113.036, 112.636, and 112.130, indicating incremental profit-taking as the price moves downwards. This approach allows traders to secure gains at various stages of the potential downward movement. Additionally, a stop-loss order is set at 114.103 to mitigate potential losses in case the trade moves against the anticipated direction. This comprehensive plan showcases a strategic approach to forex trading, balancing potential profits with risk management.