CADJPY - Long Bias after fakeout

Hi traders

here is my take on the CADJPY. Price broke the support area with what turned out to be a fake-out and bounced back into the range. I highlighted the support area with a transparent box.

If price breaks the resistance area (black) I will consider buying on the re-test with a minimum 1:2 RR. Trade will go breakeven after 1R is reached.

Let me know what you think in the comments below :)

Commentaire:

Buy limit at re-test of previous resistance. Target at the green line. Stop with a 1:2 RR!

Good luck.