CAD/JPY Short Trade Short
Canadian Dollar/Japanese YenFXCM
Description
⋅ Looking for a short position, on weekly and monthly we've made a solid bearish reversal.
Ema's crossed, we have new lower highs formed
Currently near resistance/support level, waiting for a breakout to occur, then enter a trade.
Potential TP 76.059. Stop loss depends on your strategy and risk. But i think in this case we can have a quite tight one. 30 to 50 pips
The only thing i'm afraid of is MFI divergence on 4 hourly chart, but overall - i'm bearish on this trade.
OKAY, waiting for a confirmation. Good luck.
Monthly view
Weekly
Daily