Lingrid | CADJPY Potential SHORT from SWAP zone

7 gün önce

The price perfectly fulfilled my last idea. It hit the target. CADJPY has tested the 110.600 resistance zone three times but ultimately bounced off this level after forming a range zone. Given the significant bearish daily candle, I believe the market may head lower. The recent price action has also seen the price break and close below the upward trendline that had been holding for over a week. The formation of lower lows indicates a shift in market structure. If the market rejects the swap zone, we can expect a downward move towards the channel's lower boundary. My target is support zone around 108.75

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