DuncanParker

Retesting Major Support Now Resistance

FX:CADJPY   Canadian Dollar / Japanese Yen
51 1 0
Watching for a change in trend for $CADJPY. Resistance should be heeded here, but no guarantees. Bullish MACD cross & Signal from far oversold territory, but probably best to wait for RSI to regain 50 before initiating long. Typically, I don't like to see anticipatory moves likes this ahead of a "major" news release such as NFP 4 short hours from now. My current position remains short with a stop around 92.50 given price holds this level for at least four hours.

Good luck out there!
Hey Duncan, are you still holding your previous long from a couple of weeks ago?
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