JeffKip
Short

CADJPY Short at Retracement, Risk Aversion & Rate Cut Vibes

FX:CADJPY   Canadian Dollar/Japanese Yen
UPDATE: Target 1 Hit. Profits Booked on First Position.
UPDATE 2: Target 2 Hit. Profits Booked on Second Position.

2 CADJPY             Short Positions Triggered with a dip down below the 200 SMA on H1 TF.

Fundamentals
  • Recent OIL             Prices Devaluation, Canada's Seemingly Recessive Economy and Risk Aversion Vibes are all factors that may contribute to a weaker CAD.
  • BoC is expected to cut rates this Wednesday.
Technical
  • Possible Evening Star on H4 in the Downtrend. This is after Rejection off of the 97.00 / 38.2 Fib of the current bear wave. Time will tell.
1st Target is 95.700 and 94.600 in extension.
UPDATE: Target 1 Hit. Profits Booked on First Position.
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