Trend: Long term bullish, previous month bearish.
Structure: Support and resistance / Zone
Plan: We monitor CADJPY for the potential breakout to the downside and continuation of the bearish trend or the potential pullback to the previous low/top of zone.
It appears price has respected the lower level and may pullback towards the upside however this is an aggressive play.
The smart trade here is waiting for a breakout of the zone and trading it to previous low/high
Structure: Support and resistance / Zone
Plan: We monitor CADJPY for the potential breakout to the downside and continuation of the bearish trend or the potential pullback to the previous low/top of zone.
It appears price has respected the lower level and may pullback towards the upside however this is an aggressive play.
The smart trade here is waiting for a breakout of the zone and trading it to previous low/high