TomProTrader
Short

CAD/JPY - Bearish Outlook

FX:CADJPY   Canadian Dollar / Japanese Yen
Today we have a potential setup forming for CAD/JPY             , on the 1H chart, with a swing trade.

This is an excellent short opportunity with a just over 1:2 risk to reward.

Price has been struggling to find upside for sometime now, and a move to 86.90's is on the horizon.

If price breaks the 87.40 support level , I am expecting a breakdown to our measure target.

This trade could potentially turn into a good long opportunity in the near future if it bounces at our target level.

Feel free to connect with me below :-)



Order cancelled: Price action did not break below the support level which was required to take a short position, and price also broke the above resistance structure.

Therefore, there is no trade to take here. We will now look for other trades.
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