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memit
Nov 16, 2018 10:41 AM

CADJPY Long H4 Long

CAD/JPYOANDA

Description

This is a potential long on the CADJPY. The 4 hour has broken out of a bearish channel which got a strong bullish bounce of an important weekly trend line acting as support (as shown). Price has now broken out the channel on the 4 hour and printing small pullback. It could go up from here.

I'm not that keen on the daily structure which is why I may sit on the sidelines for this one.

Comment

JPY is strong at the moment though so unlikely to see anything real movement long
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