CAD/JPY | Potential Downward Movement 🔨

2021年7月15日

Technical Analysis:

The price found sellers around the 50% Fibonacci retracement level which led to a breakout of the bearish pennant formation to the downside after posting a head and shoulders. A higher correction is expected around the 87.96 USD mark before a selloff all the way down to the target profit.
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Trade Idea:

Sell Limit Order @ 87.96
Take Profit @ 87.13
Stop Loss @ 88.23

Trade Safely 🙂