Price is testing a strong resistance zone and on the other hand it seems that the price is creating a type of expanding pattern with bullish dominance.
It is risky because JPY has been very weak and also the monetary policy statement from BOJ is not helping at all.
However, it can work out well for some small pipsl
Thank you and Good Luck!
Trade closed: target reached
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CADJPY -> Two Targets Reached
Comment
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The chances are that CADJPY may move down again for an ABC wave...however, you should not have this trade open during the BOC interest Rate decision that is scheduled for tomorrow June 7
Comment
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The Bank of Canada is expected to not hike the Interest rates today. Actual IR is 4.5% and it is not expected to change today. If that will happen CADJPY will continue down as shown on the chart, considering the following pattern
It's a beautiful chart. You have a very good use of technical analysis tools. When you analyze the long term, do you consider the fundamental analysis?
ProSignalsFx
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Thank you for sharing, mate!
Serana2324
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Good chart mate, thanks for sharing your vision
UnitedSignals
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Thank you for your analysis!
MarcellusLUX
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Fully agree with your set-up here
Javadrh
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Great analysis can you update it ?
Setupsfx_
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Great chart mate
jpeacockfx
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Looks like you caught a nice trade there. Well done!