Goodland_UK

CAD/JPY- Short from resistance

Short
FX:CADJPY   Canadian Dollar / Japanese Yen
Hello,

#CAD/JPY isn't a pair I would normally trade, however I've been watching for this set up for a while.

I've been waiting for the price to find resistance at the top of the range (roughly 88) The price has now tested this area four times and has been rejected each time.

The 100ma is also acting as a second resistance and technically I can only see the price dropping from here.

Stop loss - 88.488

First entry - 87.697

Second entry- 87.533

Target Profit- 85.450

Good luck if you join