CAD/JPY - Bearish Outlook
Updated
Today we have a potential setup forming for CAD/JPY, on the 1H chart, with a swing trade.
This is an excellent short opportunity with a just over 1:2 risk to reward.
Price has been struggling to find upside for sometime now, and a move to 86.90's is on the horizon.
If price breaks the 87.40 support level, I am expecting a breakdown to our measure target.
This trade could potentially turn into a good long opportunity in the near future if it bounces at our target level.
Feel free to connect with me below :-)
This is an excellent short opportunity with a just over 1:2 risk to reward.
Price has been struggling to find upside for sometime now, and a move to 86.90's is on the horizon.
If price breaks the 87.40 support level, I am expecting a breakdown to our measure target.
This trade could potentially turn into a good long opportunity in the near future if it bounces at our target level.
Feel free to connect with me below :-)
Order cancelled
Price action did not break below the support level which was required to take a short position, and price also broke the above resistance structure.Therefore, there is no trade to take here. We will now look for other trades.
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