Is it time to load shorts on CAD/JPY?

FX:CADJPY   Canadian Dollar / Japanese Yen
After a solid move up we are now in a potential reversal zone for this pair! Seen some bearish price action on the Daily! Our 0.618 falls perfectly in our highlighted area and maybe a break below close below 103.42 could give us a short opportunity with a brilliant risk reward profile of 5:1! (That target can get adjusted to suit you but looking at the bigger picture a retest of previous lows 99.12's could be on) Happy trading everyone!


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