BEARISH/SHORT CADJPY
Updated
DAILY CHART
-Bullish trend broke below 87.187 which satisfied selling pressure
-False breakout around 86.111 creating a new resistance zone around 86.701(lower high)
WEEKLY CHART
-Resistance around 88.516
-Support around 80.906
-Price continuation from the resistance zone shows a bearish trend
MONTHLY CHART
-Resistance around 89.610
-Support area around 82.355
-Price failed to break key resistance zone with a heavy bearish wick creating a lower high creating a sell opportunity
SELL- TP1-85.365(short term investment)
TP2-84.740(long term investment)
SL-87.339
-Bullish trend broke below 87.187 which satisfied selling pressure
-False breakout around 86.111 creating a new resistance zone around 86.701(lower high)
WEEKLY CHART
-Resistance around 88.516
-Support around 80.906
-Price continuation from the resistance zone shows a bearish trend
MONTHLY CHART
-Resistance around 89.610
-Support area around 82.355
-Price failed to break key resistance zone with a heavy bearish wick creating a lower high creating a sell opportunity
SELL- TP1-85.365(short term investment)
TP2-84.740(long term investment)
SL-87.339
Trade closed: target reached
All TP’s hit!
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