CADJPY A Strong Short Trend
CAD/JPY has been in a strong uptrend that was established last week. However,
this morning the pair witnessed a decent sell-off towards the 91.2 regions. There
has been some support created at this level and it's looking likely that the price
will retest near the recent high. However, as this high, 91.477, is a lower high
compared to last week's 91.66 it's likely for the price to fall again. The RSI levels
are also In overbought regions on the 4hr time frame. The target for this trade is
at around the 90.6 level, with the stop loss just above the recent high of 91.8.
this morning the pair witnessed a decent sell-off towards the 91.2 regions. There
has been some support created at this level and it's looking likely that the price
will retest near the recent high. However, as this high, 91.477, is a lower high
compared to last week's 91.66 it's likely for the price to fall again. The RSI levels
are also In overbought regions on the 4hr time frame. The target for this trade is
at around the 90.6 level, with the stop loss just above the recent high of 91.8.
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