Fundamental: Canadian are having an election October 21 that could lead to a weak dollar and Japan have just close a trade agreement with United states that will surely advantage the yen.
Technical: I'am seeing a huge short opportunity on the CAD/JPY pair, I have use the Fib Channel to determine that the short therm uptrend could revers and follow the long therm trend. I've personally enter this position at 81.800 (blue line) where the trend line and the 150 EMA have joint, I haven't put a stop loss but I've put alert 10, 20 and 30 pips higher to make sure that the downtrend is not broke. One of my take profit is 250 pips lower that I think will be touch in the next to days where the Level 0.618 of Fib Retracement cross the 0.236 line of the Fib Channel
Remember, before investing, you should always make your own opinion, this analysis is only my personal point of view and is not a investissent advice.
Technical: I'am seeing a huge short opportunity on the CAD/JPY pair, I have use the Fib Channel to determine that the short therm uptrend could revers and follow the long therm trend. I've personally enter this position at 81.800 (blue line) where the trend line and the 150 EMA have joint, I haven't put a stop loss but I've put alert 10, 20 and 30 pips higher to make sure that the downtrend is not broke. One of my take profit is 250 pips lower that I think will be touch in the next to days where the Level 0.618 of Fib Retracement cross the 0.236 line of the Fib Channel
Remember, before investing, you should always make your own opinion, this analysis is only my personal point of view and is not a investissent advice.
Trade closed manually:
I have decide to close this trade early at 100 pips profit, the RSI is to low and we enter a resistant zone, if the price move 10-20 pis I will look at it again but for now it's close