informedtrades

JPY Showing Weakness, CAD Showing Strength

FX:CADJPY   Canadian Dollar/Japanese Yen
57 0 0
We've been seeing CAD strength, as well as JPY weakness over the past few trading sessions......and so long CADJPY             was only a matter of time. And now, the time has come! :) I'm going long at 94.33, where we have a support level that recent candlesticks are forming a wick around, suggesting buyers are stepping in to defend. Also of note is the presence of the 50 SMA right there. My stop is at 93.85, while the target profit is at resistance at 96.18.

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