CADJPY Technical Analysis and Trading Strategy.
The CADJPY ended the previous week on a high note, suggesting a prevalence of buyer dominance. To explore potential trading opportunities, analyze the 4-hour chart where a bull flag has formed and been broken, placing us in the buying zone. The next objective is reaching TP1, and progressing towards TP2. If the area around TP1 is breached by a strong impulsive candle, there is potential to target TP2. In this scenario, it's advisable to trail your stop-loss to manage risk.
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