CAD-JPY CHART ANALYSIS (SELL SETUP)
Happy New Week Guys. Here's a quick CAD-JPY set up to start the week with.
Last week we saw a huge bullish rally breaking us out of our channel, taking us up to a resistance levels at 81.500 approximately, I believe the movements we saw resulted from fundamentals. Now markets are back to normal, we've come back down into our channel, followed by a trend breakout and retest as we can see in the chart.
I believe we would see an ABC move from here on with a first bounce of our first support level, followed buy a drop and a cool off at that second support level at 78.000 approximately.
Now would be a great time to get in for some quick pips in profit. Let me know what you think in the comment section and don't forget to follow and like
Trade Safe!
Last week we saw a huge bullish rally breaking us out of our channel, taking us up to a resistance levels at 81.500 approximately, I believe the movements we saw resulted from fundamentals. Now markets are back to normal, we've come back down into our channel, followed by a trend breakout and retest as we can see in the chart.
I believe we would see an ABC move from here on with a first bounce of our first support level, followed buy a drop and a cool off at that second support level at 78.000 approximately.
Now would be a great time to get in for some quick pips in profit. Let me know what you think in the comment section and don't forget to follow and like
Trade Safe!
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