Previous Support becomes Resistance

FX:CADJPY   Canadian Dollar / Japanese Yen
Hi guys,
this is one of the simplest method to read structure, in a downtrend, when a support is broken, it most likely will become resistance once retested. Stops above highs, target1 81,2x level. Target2 to be determined.
Don't know if i'm getting involved since i have two other CAD pairs on my watchlist.
I'll let you know.

If you want to share your view, or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Comment: Correction: Stop should go above 82,50
Trade active:
Trade closed: target reached: First target hit! Stops moved to breakeven.
Trade closed: target reached: Stopped out at breakeven

Se sei d'accordo, lascia un mi piace! Grazie
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