CADJPY is approaching towards august low
CADJPY
At 81.500 level this pair got some major rejected fourth time and felled towards 80.000 psychological level.
The medium term trend line was broken on September 08 and the price was Retested and currently its trading below 23.6% Fibonacci and 81.00 level.
Bearish engulfing candle is formed at H4 timeframe. Next downside resistance would be 80.000 and 40% Fibonacci level.
We can short this pair at this level and the target would be around 78.550 which Is a low volume and profit taking area.
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Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
At 81.500 level this pair got some major rejected fourth time and felled towards 80.000 psychological level.
The medium term trend line was broken on September 08 and the price was Retested and currently its trading below 23.6% Fibonacci and 81.00 level.
Bearish engulfing candle is formed at H4 timeframe. Next downside resistance would be 80.000 and 40% Fibonacci level.
We can short this pair at this level and the target would be around 78.550 which Is a low volume and profit taking area.
Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
Disclaimer
It’s not a financial advice. Do the analyze and take a decision.
Trade active:
Is now running with +55 pips
Trade closed: target reached:
Target achieved with +200 pips
