Currency Pair: CADJPY
Timeframe: H1
Date/Time of Signal: 14th January 2020 / 1430hrs (SGT)
Review:
With the release of the positive Canadian employment data last Friday (10th January 2020) and with anti-risk Yen depreciated as investor sentiment improved ahead of the anticipated “phase-one” trade deal signing between the China and the US. Expectation for CADJPY to continue the uptrend.
CADJPY is on a uptrend and have broken the resistance level of 84.20.
Following the trend, trade signaled to buy CADJPY (Entry: 84.31) with 3 Take Profit (TP) Targets (TP1: 84.51, TP2: 84.71, TP3: 84.91) and Stop Loss (SL) at 84.01.
Timeframe: H1
Date/Time of Signal: 14th January 2020 / 1430hrs (SGT)
Review:
With the release of the positive Canadian employment data last Friday (10th January 2020) and with anti-risk Yen depreciated as investor sentiment improved ahead of the anticipated “phase-one” trade deal signing between the China and the US. Expectation for CADJPY to continue the uptrend.
CADJPY is on a uptrend and have broken the resistance level of 84.20.
Following the trend, trade signaled to buy CADJPY (Entry: 84.31) with 3 Take Profit (TP) Targets (TP1: 84.51, TP2: 84.71, TP3: 84.91) and Stop Loss (SL) at 84.01.
Note
On Hindsight: I should have looked at the Oil Price (currently on a downrend) as it can affect the Canadian dollar.
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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.