Anticipating CAD/JPY's Bearish Breakout: Technical Analysis
Hey, fellow traders! I'm keeping a close eye on CAD/JPY as it looks bearish and could potentially head south. In my technical analysis, I've spotted a trendline and RSI divergence that could indicate slowing momentum, along with a sweet continuation pattern in the price action.
If we break the key "support/resistance area," the pair could drop as low as 97.5. That's why I'm planning to wait for a pullback before taking any action in the market. But for those of you who are considering shorting CAD/JPY, keep an eye out for these signals as they could indicate a prime opportunity to make some profits.
Overall, it's essential to stay vigilant and monitor the trends and indicators to make informed trading decisions. I hope this analysis helps you in your trading journey. Happy trading!
If we break the key "support/resistance area," the pair could drop as low as 97.5. That's why I'm planning to wait for a pullback before taking any action in the market. But for those of you who are considering shorting CAD/JPY, keep an eye out for these signals as they could indicate a prime opportunity to make some profits.
Overall, it's essential to stay vigilant and monitor the trends and indicators to make informed trading decisions. I hope this analysis helps you in your trading journey. Happy trading!
Trade active
So far so good! I'll move to break even soon.Trade closed: target reached
Closing it out for the weekend. Have a good one traders!
✅ Discord: discord.gg/qZx4vMcchy
✅ My Site: natronfx.com
✅ Twitter: twitter.com/natronfx
✅ YouTube: youtube.com/@natronfx
✅ TikTok: tiktok.com/@natronfx
✅ My Site: natronfx.com
✅ Twitter: twitter.com/natronfx
✅ YouTube: youtube.com/@natronfx
✅ TikTok: tiktok.com/@natronfx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ Discord: discord.gg/qZx4vMcchy
✅ My Site: natronfx.com
✅ Twitter: twitter.com/natronfx
✅ YouTube: youtube.com/@natronfx
✅ TikTok: tiktok.com/@natronfx
✅ My Site: natronfx.com
✅ Twitter: twitter.com/natronfx
✅ YouTube: youtube.com/@natronfx
✅ TikTok: tiktok.com/@natronfx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.