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Official_Piyath

Trend line Bounce on CAD/JPY (1 Hour)

Long
Canadian Dollar / Japanese Yen (OANDA:CADJPY)  
Official_Piyath Updated   
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators
1
0
trendanalysis chartpattern indicator
After analysing CAD/JPY on the 1 Hour,I can see a downtrend trend line that has successfully been respected with 3 touches. I have also used Fibonacci to Find is it currently at any key level and it is at the 0.236 level. I am looking to go LONG once this level has been crossed and have a target to the 0.382 level on the Fibonacci, specifically the 80.563 level.
snapshot
Trade closed: target reached:
Well Done guys. Those who took this trade have won handsomely. The market had bounced off the trend line and move upwards, just before the moving average.
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