CAD-JPY is moving in a bearish direction. It appears that there is a formation of Falling Wedge Reversal Pattern as well as presence of the Divergence. In this case, this Forex instrument can take a possible reversal from its current price position. Therefore, a long trade setup is suggested in this chart in case of breakout from the ENTRY POINT mentioned in the chart. Risk must be taken up to 2% of the total portfolio.
Comment
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Projected Price Reached...You can book your partial Profit If you like
Trade closed: target reached
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TP1 hit...Move your top loss to TP1 or Entry point