Canadian Dollar / Japanese Yen
Short
Updated

CADJPY potential sell at resistance

396
I'm currently taking a sell on CADJPY as price approaches a strong resistance level around 108.6. Despite the recent bullish momentum, this level has previously acted as a barrier, and combined with a rising wedge pattern, it suggests potential exhaustion of the uptrend. If price fails to break and hold above this resistance, a bearish reversal could follow, offering a good sell opportunity.
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70 pips in profits secure profits, or break even

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