1:10 Risk Reward Setup In CADJPY

FX:CADJPY   Canadian Dollar / Japanese Yen
The support around 76.50 is a key level that we want to hold in order for this setup to be valid. It is very likely that we will see one more push higher before the correction that we need in order to go long.

Look for hidden bullish divergence to form near the up trend line which would be perfect trigger for this entry. Alternatively you can draw the most recent down trend line and go long with the breakout above.

Stop Loss – below last low created and the up trend line .

Target 1 – 80.00

Target 2 – 87.20.
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