CAD/JPYl: Bearish Butterfly Pattern
Canadian Dollar/Yen Japanese look bearish in this point to overview in H1 timeframe, but we're in the supply zone that Canadian Dollar could to weak very strong this week to $101.38 JPY and see a sell-off in this par.
I decide to put a short position now in the market price, Stop Loss to $104.93 JPY (58 pips) and take profit to $101.38 JPY (296 pips)
The price it's below of the key point to short in the 0.782% fibonacci, a good place to short now and hold this short position.
I hope that this analysis support you if you decide to trade Canadian Dollar to sell-off.
Good luck!!!
I decide to put a short position now in the market price, Stop Loss to $104.93 JPY (58 pips) and take profit to $101.38 JPY (296 pips)
The price it's below of the key point to short in the 0.782% fibonacci, a good place to short now and hold this short position.
I hope that this analysis support you if you decide to trade Canadian Dollar to sell-off.
Good luck!!!
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