CAD/JPY: trade on risk sentiment

CAD/JPY: trade on risk sentiment

2019-11-11 • Updated

Trade idea

BUY 83.60; TP1 84.30; TP2 84.70; SL 83.30

If you want to make a bet on the positive risk sentiment, you can consider buying CAD/JPY. This pair has recently risen above the 50-day MA and 50% Fibonacci of the October-January decline (83.35). Upside targets lie at 50-week MA at 84.35 and 61.8% Fibo at 84.70. Last week’s advance of the pair was confident and showed the presence of bullish momentum.

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