The CAD/JPY pair has increased by more then 7/8% in a month. The RSI and Stochastic are indicating to me that its seriously overbought and its hitting a very strong resistance that has been around since 2015 so a correction will in order in with all these indication I feel that this is defiantly a sell. Keep in mind that the bank of Canada will more likely...
ABCD is a classic wave movement that has been using to trade in 2 manners, a counter-trend trade engagement technique or by using as a projection of targets.
A double bottom forms on H4 support level and having RSI Divergence sweeten it more for traders who are looking for buying opportunity.
as we can see a very nice bearish flag is forming on cadjpy, trade with care this short term trade and if you see price aggressively going down then extend the target. watch strong break out of the bearish flag.
CADJPY Buy Idea
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CADJPY In 1 Day charts Is on Channel Bottom more chances to move market upside.
Note: This is only for Educational Purpose this is not Investment advice.
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