CADJPY has been in a downtrend since October, and impulsively broke thru $85 at the beginning of December. Weak bounce off a decent daily support level at $83.6.
Targeting a retest of the 4hr role reversal level for a short entry with a stop above the previous swing high. Targeting level a bit above December lows for a 4 to 1 R trade, though my bias is that it will break thru that level.
Targeting a retest of the 4hr role reversal level for a short entry with a stop above the previous swing high. Targeting level a bit above December lows for a 4 to 1 R trade, though my bias is that it will break thru that level.