akyong
Long

CADJPY: Bullish Big Shadow Setup

FX:CADJPY   Canadian Dollar/Japanese Yen
16 0 0
Last week ended showing strength in the Canadian Dollar             and there is no significant strength shown on the Japanese Yen             . Technically, there is a bullish big shadow candle on the H4 chart engulfing the previous candles near the support structure. Buy stops can be placed just above the big shadow high with stops below the low. As there is no significant structure above, we can adopt the trailing stop approach for taking profits.
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