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Odili-Henry

CADJPY BUY IDEA. Resistance broken on 1hr timeframe

Long
Canadian Dollar / Japanese Yen (OANDA:CADJPY)  
Odili-Henry  
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Multiple Time Frame Analysis Support and Resistance
0
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mtfa supportandresistance
snapshot

Price has retested the previous resistance level turned support after breaking above it on the weekly time frame.
You can look for possible buy entries on the 1 hr timeframe and trail your stop loss using the lows of the 20 period moving average.

Proposed trading plan for this CADJPY trade using the 1HR timeframe for my entry


snapshot

Entry point: 81.940
Stop loss: 81.614
Take Profit: 88.00
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