JPY/CAD ANALYSIS

5 thg 12, 2019

Hi traders :). Here are some thougths about JPY/CAD possible future price action. As you can see from the chart, the pair, after reaching a significan support zone at the storic level of 0.01225, made three progressive lower tops forming a very strong resistance trendline. The bearish downtrend is supported by a Stochastic occult divergence. Also notice how the trendline which supported the price from January 2018 to the mentioned 26/08/2019 top acted as a resistance trendline for the previous weeks price action.Look at the chart for details regarding entry, stop and targets.
Write me in the comments for any questions or thoughts.
Good luck :)