CADJPY had recently broken out of a descending channel and is currently re-testing this as well as the resistance level 80.67. Last week we closed with strong bearish momentum which I feel will carry on to reach our target at 78.45. I will be waiting for a daily close below 80.67 before entering short.
All tips/comments welcome, I will update this as the trade plays out.
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Price has pulled back further than expected. Still watching. Price action still bearish.
Order cancelled
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Was a fakeout, price now back trading within the channel. Looking for new set ups. Trade was not entered as had no confirmation.