First of all, we have to wait H1 decision. Price might go to 76.02 resistance level (bounce!), and then continue short or price will continue from current level, but first it has to break lower low level and prove it on H1 timeframe.
We assume this trade is clear entry from CAD weakness. Can is getting weaker for a few days long, and its weakness is increasing. Even if you didn't relize weakness, we are here to give you this kinda informations, so you can compare your analysis and ours.
So on, we saw from previous day also JPY strenght by this pair, but not much from the other pairs. From other pairs, jpy started push from London session, but declined after Powell finished his speach. This example was at usdjpy which is not currently good for trading, but waiting for following data.
So on, we can define trending at cadjpy not marked yet as trend continuation because demand from CAD at 75.300 support level was very strong. From this perspective it's just better to take 100% profit away.
Wish you good trading,
Elitefxacademy
We assume this trade is clear entry from CAD weakness. Can is getting weaker for a few days long, and its weakness is increasing. Even if you didn't relize weakness, we are here to give you this kinda informations, so you can compare your analysis and ours.
So on, we saw from previous day also JPY strenght by this pair, but not much from the other pairs. From other pairs, jpy started push from London session, but declined after Powell finished his speach. This example was at usdjpy which is not currently good for trading, but waiting for following data.
So on, we can define trending at cadjpy not marked yet as trend continuation because demand from CAD at 75.300 support level was very strong. From this perspective it's just better to take 100% profit away.
Wish you good trading,
Elitefxacademy