Recently all XXX/Jpy pairs have shoot up like rocket to moon. And shorting this pairs in current situation can be proved to be costly mistake, however if proper money management & proper entry area can be found out then tactical short plays can also be won. I m currently looking at CadJpy which in my opinion gives room to play the those tactical shorts. There is expansion pattern growing in this pair which has acted well in recent history. Any subsequent strike to underside of upper line should be shorted with 30 pips stops for aiming at target of 98.00-50.
Be cautious its uptrend as of now & any short should be considered as counter trend & should be managed & treated accordingly.
Be cautious its uptrend as of now & any short should be considered as counter trend & should be managed & treated accordingly.