Happy New Week Guys. Here's a quick CAD-JPY set up to start the week with.
Last week we saw a huge bullish rally breaking us out of our channel, taking us up to a resistance levels at 81.500 approximately, I believe the movements we saw resulted from fundamentals. Now markets are back to normal, we've come back down into our channel, followed by a trend breakout and retest as we can see in the chart.
I believe we would see an ABC move from here on with a first bounce of our first support level, followed buy a drop and a cool off at that second support level at 78.000 approximately.
Now would be a great time to get in for some quick pips in profit. Let me know what you think in the comment section and don't forget to follow and like
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