CADJPY 30min Analysis February 22nd, 2021
Price has pushed to the downside to start the week, but price is now at our current demand zone.
Trade Scenario 1: Bullish - For us to go long we want to see price find support around 83.100. We will then look to enter on strong bullish setups off our support zone, first targeting 83.500.
Trade Scenario 2: Bearish - For us to go short we need to see price fall below our support zone of 83.100. We will then wait for a retrace and for price to reject off 83.100.
Trade Scenario 1: Bullish - For us to go long we want to see price find support around 83.100. We will then look to enter on strong bullish setups off our support zone, first targeting 83.500.
Trade Scenario 2: Bearish - For us to go short we need to see price fall below our support zone of 83.100. We will then wait for a retrace and for price to reject off 83.100.
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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.