CADJPY was in Bearish run. It seems that It will go Bullish if the trend breaks at 99.835.
A Divergence can be seen on RSI indicator. Also a double bottom reversal pattern indicates a possible reversal. To make sure, trend needs to break the previous LH and then it will rally towards estimated TPs. Entry can be taken on below mentioned parameters.
IDEA:
Buy Stop Entry : 99.835
Stop Loss : 98.610
TP 1: 101.060
TP 2: 102.268
Risk: 2%
A Divergence can be seen on RSI indicator. Also a double bottom reversal pattern indicates a possible reversal. To make sure, trend needs to break the previous LH and then it will rally towards estimated TPs. Entry can be taken on below mentioned parameters.
IDEA:
Buy Stop Entry : 99.835
Stop Loss : 98.610
TP 1: 101.060
TP 2: 102.268
Risk: 2%