CADJPY - Sell
Updated
Set up: A confirmed 4 hour downtrend, price broke the very strong support at the 82.67 level and now heading to retest it as the new resistance. This level coincides with the Fib 61.8% retracement level which I predict will be the zone of which this retracement will end and price will continue the downtrend to the 81.00 level at which I've set up my TP. SL is about 30 pips above the 61.8% Fib level.
Trade active
Trade closed: target reached
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.