• Feb 5, 2025
  • Trade ideas

CADJPY: Downside Possibility

CADJPY, Daily

CADJPYDaily.png

In the Daily timeframe, CADJPY broke the trend line, retested it, and bounced. The price tests critical support and TEMA, with the AO indicating a growing bearish sentiment.

  • We consider selling CADJPY on a fall below 106.800 with a target of 105.000;
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt