CADJPY Short after Hitting .618 Retrace

13 Haz 2020

CADJPY has been following a downtrend line since around June 8th and it seems it's been respecting that line pretty well. After coming up for a retrace on June 11 and 12 we can see that it hit the .618 retrace level before going down again. This suggests that it'll continue it's bearish movement and it would be a good time to jump into a short in order to grab 100 pips.