Jamal92
Short

Selling Position - CAD/JPY

FX_IDC:CADJPY   Canadian Dollar / Japanese Yen
The CAD/JPY pair has increased by more then 7/8% in a month. The RSI and Stochastic are indicating to me that its seriously overbought and its hitting a very strong resistance that has been around since 2015 so a correction will in order in with all these indication I feel that this is defiantly a sell. Keep in mind that the bank of Canada will more likely increase the interest rates on Wednesday which could cause a mild upside. The reason for me saying this is that this pair has increased 8% in about a month so the price could be already priced in.
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