CAD/JPY.. failing to break above resistance level.
The CAD/JPY pair seems to lack the pressure to break above the 103.600 resistance level.
Taking a good look at the RSI indicator, its also failing to make a higher high to correspond with the movement of the price chart.
so, price is at a resistance level and has slightly made a higher high, however the RSI has fail to make consistent move in line with price chart therefore making a divergence setup.
I had gone gone short with an entry at 103.489..(my entry was taking from a lower timeframe-15mins chart). SL.103.700.. TP.102.000..
MAY THE MARKETS BE WITH YOU!!!
Taking a good look at the RSI indicator, its also failing to make a higher high to correspond with the movement of the price chart.
so, price is at a resistance level and has slightly made a higher high, however the RSI has fail to make consistent move in line with price chart therefore making a divergence setup.
I had gone gone short with an entry at 103.489..(my entry was taking from a lower timeframe-15mins chart). SL.103.700.. TP.102.000..
MAY THE MARKETS BE WITH YOU!!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.