Short Opportunity on CAD/JPY: Clear Bearish Setup
In this trading idea, we're looking at a compelling short opportunity on CAD/JPY (Canadian Dollar/Japanese Yen) with defined entry, stop loss, and target levels.
Entry: 112.643
Stop Loss: 112.860
Target: 111.800
Technical Rationale:
The CAD/JPY pair has shown signs of weakness with a clear downward trend.
Entry at 112.643 aligns with the current bearish momentum, offering a favorable risk-reward setup.
Stop loss at 112.860 is placed to manage risk in case of unexpected market movements.
Target set at 111.800 indicates a potential area of support where price could reverse or consolidate.
Risk Management:
Always adhere to proper risk management practices and adjust position sizing accordingly. This setup is based on technical analysis, and market conditions may change. Monitor the trade closely for any developments that could affect the trade's outcome.
Remember to do your own analysis and ensure the trade fits your risk tolerance and trading strategy. Happy trading! 📉
Entry: 112.643
Stop Loss: 112.860
Target: 111.800
Technical Rationale:
The CAD/JPY pair has shown signs of weakness with a clear downward trend.
Entry at 112.643 aligns with the current bearish momentum, offering a favorable risk-reward setup.
Stop loss at 112.860 is placed to manage risk in case of unexpected market movements.
Target set at 111.800 indicates a potential area of support where price could reverse or consolidate.
Risk Management:
Always adhere to proper risk management practices and adjust position sizing accordingly. This setup is based on technical analysis, and market conditions may change. Monitor the trade closely for any developments that could affect the trade's outcome.
Remember to do your own analysis and ensure the trade fits your risk tolerance and trading strategy. Happy trading! 📉