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CharlieGunner

Possible CADJPY Short Opportunity

Canadian Dollar / Japanese Yen (FX:CADJPY)  
CharlieGunner  
FX:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Chart Patterns
4
8
trendanalysis chartpattern
CADJPY is in a current uptrend. Fortunately, CADJPY has found and tested what seems to be a significant price level (a weekly resistance zone) and failed to break to the upside. Price then bounced off of the 83.585 support level so as to gain a bullish momentum to break through resistance, or retest resistance before plummeting. The latter is more likely to happen, so we will be looking for short opportunities...

Entry Point 85.000, Stops 86.000 & Target 82.500

Trading ideas are subjective. individual analysis advised.
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