xosignals

#CADJPY rise has come to an end?

Short
FX_IDC:CADJPY   Canadian Dollar / Japanese Yen
We think that the recent advances in cadjpy have come to an end for several reasons
1. The previous weekly candle is a Doji candle that means it can indicate a reversal of a trend.
2. The price of cadjpy is currently close to resistance called Senkou Span (Ichimoku indicator)
3. In the daily chart, the cadjpy rose until it touched a moving average 200 and failed to break above it and started to fall a sign of weakness
Sell CAD/JPY:
Entry Price: 84.17
Stop Loss: 84.65
take Profit: 83.00
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.