CAD/JPY.. failing to break above resistance level.
The CAD/JPY pair seems to lack the pressure to break above the 103.600 resistance level.
Taking a good look at the RSI indicator, its also failing to make a higher high to correspond with the movement of the price chart.
so, price is at a resistance level and has slightly made a higher high, however the RSI has fail to make consistent move in line with price chart therefore making a divergence setup.
I had gone gone short with an entry at 103.489..(my entry was taking from a lower timeframe-15mins chart). SL.103.700.. TP.102.000..
MAY THE MARKETS BE WITH YOU!!!
Taking a good look at the RSI indicator, its also failing to make a higher high to correspond with the movement of the price chart.
so, price is at a resistance level and has slightly made a higher high, however the RSI has fail to make consistent move in line with price chart therefore making a divergence setup.
I had gone gone short with an entry at 103.489..(my entry was taking from a lower timeframe-15mins chart). SL.103.700.. TP.102.000..
MAY THE MARKETS BE WITH YOU!!!
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