CADJPY Facing Horizontal and Trendline Resistance
After breaking through the previous resistance around 80.00, this pair made headway to the next one 200 pips above at 82.05 - 82.50. Here it is facing another resistance zone, and a resistance trendline that is validated by 3 consecutive retests and confirmations.
This week, for this pair, wait for a bearish candle on the Daily Tf and short to 80.5, or wait for a bullish candle and buy up to approximately 85.50
Price may also surprise us and gap upwards above the current resistance zone. In that case I will wait for the first daily candle this week to close and reassess my options.
This week, for this pair, wait for a bearish candle on the Daily Tf and short to 80.5, or wait for a bullish candle and buy up to approximately 85.50
Price may also surprise us and gap upwards above the current resistance zone. In that case I will wait for the first daily candle this week to close and reassess my options.