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Canadian Dollar / Japanese Yen
Short

CADJPY Short

By FX_CouchPotato
Updated
CADJPY

The pair is immensely overbought, and amidst significant divergence, a new HIGH is being formed and the support is about to give way. This is the point from which the pair will begin its demise (in my opinion, of course), which will be largely fueled by the Yen. The trade is moderately risky as we have no means of knowing when and how the BoJ will intervene, but from a technical standpoint, the time is just right to sell.
Trade closed: stop reached
Trade active
Re-entering short

snapshot
Trade closed: stop reached
bojCADJPYChart PatternsTechnical IndicatorsshortTrend Analysisyenyenpairs
FX_CouchPotato

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