CADJPY Trade Idea (19th February 2020)

Currency Pair: CADJPY
Timeframe: H1
Date/Time of Signal: 19th February 2020 / 1630hrs (SGT)

Review:

The Japanese yen lost some safe-haven appeal due to the uptick in Asian stocks today as after Japan posted better-than-expected export data and as many manufacturing facilities in China restarted following an extended shutdown due to the coronavirus outbreak.

Recently, CADJPY has been on a uptrend and has broken through the Resistance level of 83.00.

Trade signaled to buy CADJPY (Entry: 83.19) with 3 Take Profit (TP) Targets (TP1: 83.39, TP2: 83.59, TP3: 83.79) and Stop Loss (SL) at 83.89.