Cadjpysell
#CADJPY rise has come to an end?We think that the recent advances in cadjpy have come to an end for several reasons
1. The previous weekly candle is a Doji candle that means it can indicate a reversal of a trend.
2. The price of cadjpy is currently close to resistance called Senkou Span (Ichimoku indicator)
3. In the daily chart, the cadjpy rose until it touched a moving average 200 and failed to break above it and started to fall a sign of weakness
Sell CAD/JPY:
Entry Price: 84.17
Stop Loss: 84.65
take Profit: 83.00
CADJPY Sell The Breakout Bearish Trade Setup (Sell) I expect the price to move back up to at least the 0.382 fib level and providing price action turns bearish and I have enough confluence in my setup, I will be looking to take a short back to the trendline and will be expecting the trendline to break to the downside. With stops above the previous swing high on the daily timeframe and aiming for 82.5, we have a very attractive sell setup.