CAD-JPY pair has reached a strong horizontal resistance zone in the weekly time frame. The pair marked an positive movement to the upside for a while and we believe that its going to make a correction to the downside. Not to mention that fib retracement could act as a strong supports to our trade. However, we still can notice that theres a bullish flag about to form yet, we ll be moving our stop to the entry one we hit our first target for the sake of safety. On the other hand, if the pair follows our analysis and breaks the flag to the downside, we will witness a great pullback to the downside (up to +150 pips). Take this trade if you believe in this analysis
CAD-JPY pair has reached a strong horizontal resistance zone in the weekly time frame. The pair marked an positive movement to the upside for a while and we believe that its going to make a correction to the downside. Not to mention that fib retracement could act as a strong supports to our trade. However, we still can notice that theres a bullish flag about to form yet, we ll be moving our stop to the entry one we hit our first target for the sake of safety. On the other hand, if the pair follows our analysis and breaks the flag to the downside, we will witness a great pullback to the downside (up to +150 pips). Take this trade if you believe in this analysis