Sell CADJPY- Pull back from 3 week old resistance trend line

27 thg 8, 2019

The currency pair is trading below the three week old resistance trend line on hourly chart. We can see, during this period, every time the pair hit the resistance trend line, it pulled back to test the weekly or a monthly low. Recently, CADJPY reversed off its resistance at 80.60 and is likely to hit the area around 79.42, considering a major support.

TP- 79.420
SL- 80.31