LorenzoDecaria

Looks like a counter trend trade

Short
FX:CADJPY   Canadian Dollar / Japanese Yen
1
Price broke up the 96.50 resistance but on the 4 hour chart a bearish divergence and a bearish rotation are taking shape. Also the rising short term trendline has been broken on the down side and I think a retest of 96.50 level as support is due. So, I'm waiting for a retracement to enter short targeting 96.50.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.