Hello traders,
As it comes to CADJPY, I see that after the positive CAD news on Friday, this pair has been sold hard.
I see a break of Trend line and support zone and I can see a Friday closure at retest price action. Perhaps the pair might go up for a bit, but this will indicate nice short opportunities to the previous support zones.
Note: The Bank of Japan perfoms an intervention to mitigate the YEN's depreciation. So, Yen may buy from now on invalidating last year's falling performance.
Good luck!
As it comes to CADJPY, I see that after the positive CAD news on Friday, this pair has been sold hard.
I see a break of Trend line and support zone and I can see a Friday closure at retest price action. Perhaps the pair might go up for a bit, but this will indicate nice short opportunities to the previous support zones.
Note: The Bank of Japan perfoms an intervention to mitigate the YEN's depreciation. So, Yen may buy from now on invalidating last year's falling performance.
Good luck!
Trade closed: stop reached
Comment:
-110pips