If CADJPY returns to the lower median line parallel, there should be a buying opportunity at that level, esp. because it would coincide with the prior highs. The CAD is currently the strongest currency, while the JPY is the weakest, which makes this pair a perfect match for trading long. Now I wonder, if we're going to see new highs, or perhaps the time has come for a correction. Especially because the CAD has been trading generally at overbought levels and its momentum seems to be sagging now, whereas the JPY's momentum has been declining for some time and may soon start to mark the bottom. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
CADJPY has been trading in this channel since the early days of November. What is it going to do next? I expect it to hold once again and I'm still long this pair.
Trader.Artist21
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very nice thinking the same way I am :)
ForceFollower
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So, you'll be good. :-) I'm still long USDJPY and CADJPY.
JeepsonTrading
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fantastic entry! I shall follow and good luck :)
ForceFollower
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Sorry, it failed. Anyway, it should rebound, sooner or later...