FOREXEL

Easier said than done but at least shows some possibillities

FX:CADJPY   Canadian Dollar/Japanese Yen
19 1 3
The Loonie is figthing the inner trendline with numerous highs and lows as it climbs. It will either break the trendline and make a squezze..or continue to climb along the trendline.

It is heading for 100.83 ( fib 0.618) - 101.33 which is the next major supply zone for this pair.

See inner trend line for pull back targets as this trade goes on. One better trade this pair on 240 and 60 min in order to be able to trade it. It is a bit tricky.

I expect this trade to correlate with the USDJPY             as that one will take off later during the year. A range play is likely to develop as this pair reach its first target as well - ranging between 101 and 97.

Keep an eye on the Stochs, MAs and the Inner Trendlines to trade this one back and forth as you wish.
FOREXEL
2 years ago
Trade idea still solid
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