Bearish EMA setup: The 50-period EMA is below the 100-period and 200-period EMAs, signaling a potential downtrend.
Trade Plan:
Entry: Consider entering a short position if CAD/JPY falls below the 50-period EMA at 110.272.
Stop-Loss: Place a stop-loss above the 100-period EMA (110.162) or recent swing high.
Take Profit: Target a support area near 109.800 for potential profit-taking.
Risk Management: Adjust position size to manage risk appropriately.
Monitor the Trade: Continuously monitor market conditions and adjust stop-loss/take-profit levels as needed.
Trade Plan:
Entry: Consider entering a short position if CAD/JPY falls below the 50-period EMA at 110.272.
Stop-Loss: Place a stop-loss above the 100-period EMA (110.162) or recent swing high.
Take Profit: Target a support area near 109.800 for potential profit-taking.
Risk Management: Adjust position size to manage risk appropriately.
Monitor the Trade: Continuously monitor market conditions and adjust stop-loss/take-profit levels as needed.