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Cadjpysignal

#CADJPY rise has come to an end?We think that the recent advances in cadjpy have come to an end for several reasons 1. The previous weekly candle is a Doji candle that means it can indicate a reversal of a trend. 2. The price of cadjpy is currently close to resistance called Senkou Span (Ichimoku indicator) 3. In the daily chart, the cadjpy rose until it touched a moving average 200 and failed to break above it and started to fall a sign of weakness Sell CAD/JPY: Entry Price: 84.17 Stop Loss: 84.65 take Profit: 83.00
Short
by xosignals
CADJPY OUTLOOK w bullish outlook1. Retest of previous weekly structure. 2. Next week we see important CAD data coming in. I have a bullish bias on the CAD GOV hiking rates. So a bounce off this structure for me is expected. 3. Good RR with SL below structure. *Anything can happen to bullish bias does not mean shit unless we have decent price action around the structural support area. *Pullback volume is also higher compared to the wave up so next week we will need to determine whether the selling pressure is still there.
by D_Market_Outlook
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