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Haidi_striker
May 4, 2023 1:15 PM

CADJPY - Bullish Reversal Long

Canadian Dollar/Japanese YenFXCM

Description

CADJPY was in Bearish run. It seems that It will go Bullish if the trend breaks at 99.835.

https://Analysis
A Divergence can be seen on RSI indicator. Also a double bottom reversal pattern indicates a possible reversal. To make sure, trend needs to break the previous LH and then it will rally towards estimated TPs. Entry can be taken on below mentioned parameters.

IDEA:

Buy Stop Entry : 99.835
Stop Loss : 98.610
TP 1: 101.060
TP 2: 102.268
Risk: 2%
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