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Loonieyen

CADJPY Short Trade Idea A bearish trade opportunity recently presented itself on the loonie-yen currency pair. This is indicated by the bearish harami candlestick pattern just below the 110.646 horizontal resistance level. This shows a rejection of the same resistance level, with potential price move downward ⬇️. Sufficient downward momentum should see price moving towards the 105.000 psychological level and possibly testing the strength of the 104.281 horizontal support level. As always, apply appropriate risk management. Happy trading!
Short
by charles-okoukoni
A Nice Correlation Trade Is Setting Up Between AUD/JPY & CAD/JPY*Position Update: On 05/05/2015 we liquidated both sides of this correlation trade with a profit of 73.1 Pips while taking advantage of the correlation spread narrowing after the interest rate decision in Australia. A nice correlation trade is setting up between AUD/JPY & CAD/JPY. The spread in the correlation is currently 200 Pips, over the past year the max spread has been approximately 400 - 450 Pips. We will be taking 1/2 our intended position size, if the spread widens to that max spread mentioned above we will add the second 1/2. Australia is announcing interest rates in 3 hours which could provide that opportunity or present us with a profit. The trade is Long AUD/JPY & Short CAD/JPY.
Long
by unique4x