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DeGRAM
Jan 8, 2024 8:45 AM

DeGRAM | CADJPY false break of the resistance Short

Canadian Dollar/Japanese YenFXCM

Description

CADJPY made a false breakout of the resistance level where price made equal highs.

Price reacted to the resistance level at 108.500 by falling several times.

The market shows massive divergence at the resistance level on the hourly chart, showing that bulls run out of steam.

We expect a bearish move since the daily chart shows us consolidation.



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Comments
DeGRAM
Good luck in the markets and have a great trading week!
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