Lingrid | CADJPY Potential SHORT from SWAP zone
The price perfectly fulfilled my last idea. It hit the target. 
CADJPY has tested the 110.600 resistance zone three times but ultimately bounced off this level after forming a range zone. Given the significant bearish daily candle, I believe the market may head lower. The recent price action has also seen the price break and close below the upward trendline that had been holding for over a week. The formation of lower lows indicates a shift in market structure. If the market rejects the swap zone, we can expect a downward move towards the channel's lower boundary. My target is support zone around 108.75
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
CADJPY has tested the 110.600 resistance zone three times but ultimately bounced off this level after forming a range zone. Given the significant bearish daily candle, I believe the market may head lower. The recent price action has also seen the price break and close below the upward trendline that had been holding for over a week. The formation of lower lows indicates a shift in market structure. If the market rejects the swap zone, we can expect a downward move towards the channel's lower boundary. My target is support zone around 108.75Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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