Another 2618 trade involving the Greenback. This time the paired currency is the Canadian namesake, but here I'd be a bit more cautious with respect to USDJPY (check related idea). Recent price action seems too bullish to suppose a resume in the downtrend, even though 1.2400 is a stiff resistance. On the daily time frame a bullish inverse divergence made prices pop from support at 1.2200 and could have came to its end just at 1.2400.
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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.