ddreamz
Long

CAD/JPY possible buy

FX:CADJPY   Canadian Dollar / Japanese Yen
Hi,

My idea on CAD/JPY:

Price at recent daily suppport. Slow pull back moving inside a descending channel and now it breaks above very convincingly. Furthermore, this breach is going to the starting point of the recent downside low and now keeps holding at the same area.
Possible scenarios:
1) aggressive buy now with stop loss below 87.90 , targets around the recent high.
2) Wait a discount and buy with even better risk to reward ratio.

Good luck :)
Comment: Moving stops closer to the entry price around 88.60.
Nice setup
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are you entered to the trade?
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ddreamz RuchithaHopkins
@RuchithaHopkins, Yep, it barely hit the target. Closed break even.
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