CADJPY: Next stop the monthly falling trendline?
Updated
There's not much in the way of this move from what I can see.
Yen continues to be the weakest currency in the G10 (for now, BoJ look set to intervene at some point this year) and for the short term I expect this to continue to meet the descending long-term trendline that's formed.
I'll be looking for sells around 115 with any LTF confirmation, but until then I'm going to be doing some long scalps not that local resistance has been broken and retested.
Yen continues to be the weakest currency in the G10 (for now, BoJ look set to intervene at some point this year) and for the short term I expect this to continue to meet the descending long-term trendline that's formed.
I'll be looking for sells around 115 with any LTF confirmation, but until then I'm going to be doing some long scalps not that local resistance has been broken and retested.
Trade active
1 hour hammer candle used as confirmationTrade closed: stop reached
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