[H1] CAD/JPY short - price denies to make higher highs

The price of CAD/JPY denies to make higher highs and loses momentum. The current setup creates a juicy risk reward ratio, as we know very fast if the setup is valid or not. A more conservative SL placement could be above 84.750, which is still a nice ratio. GL!

Trade closed: target reached:

The trade went into profit, after coming very close to the SL. With recent weakness in USOIL and the JPY strength, there is a high probabilty of this pair going even lower.