CADJPY is currently on a supportive trendline and is showing signs of rejection, presenting an opportunity for bulls to go long now. However, bulls should note that CADJPY has been trading in a range for the past month, meaning a breakout could occur soon. For this reason, a stop loss will be placed a few pips below the supportive trendline, and a target at the resistance zone around 79.600
This gives us a +-1 to 3 risk to reward ratio. Use proper risk management and trade wisely.
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Best of luck traders!
This gives us a +-1 to 3 risk to reward ratio. Use proper risk management and trade wisely.
Be sure to follow me for more ideas and analyses, your support is highly appreciated.
Best of luck traders!
Trade active:
Long position is in decent profits now. Lock your profits, and consider taking partial profits if you are happy.
Best of luck traders!
Best of luck traders!