CADJPY Possible Sell

Looking for a sell in the purple circle area. This is an intra-week trade and this trade could take couple of days through this week to platy out. Expecting the trade to be over by Friday.

We would like to see Japanese Yen strengthen with Canadian Dollar sidelining or weakening.

Fundamentals to keep an eye out on:

For JPY : Revised Industrial Production m/m, Core Machinery Orders m/m & Tertialry Industry Activity m/m

For CAD: Manufacturing Sales m/m & Consumer Prize Index m/m & y/y data.

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Following! What TP are you looking at?

Sorry forgot to mention TP areas

I am targeting the blue zone … 85.00 area (150pips approx)

Yeah … still no sign of the sell… looking for nice exhaustion or engulfing patterns in the circled area :slight_smile:

Perfect. Will be checking along with you!!

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Nice looking trade with a nice liquidity area to target. Ill be keeping an eye for sure!

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Oooh! Looks promising. :blush: Hope you update us once the trade has been carried out also. :smiley: Looks like a lot of people are already keeping an eye on this trade! :smiley: Haha.

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Yeah we are looking good… can see some weakness come in for CAD.

Trade is in play and if we break the recent low we will have a good run to target.

CAD Manufacturing Sales are showing signs of weakness. Would like to see some strength come into JPY by Tertiary Industrial Activity to fuel the trade further south.

Trade is in play!

YES! Looking very good!!! Now I regret not taking it lol

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Nvm I think I’m going in.

@ponponwei … Currently we are at support… we may see some retracement come in before further move south… So if you missed the first entry in the purple circle area … best to wait till we break recent lows for confirmation.

Seeing some weakness come in for JPY, however this may only be a temporary weakness that will help with the retrace… further push south still expected. Moving stops to break even just in case :slight_smile:

CPI info not good for CAD… its showing strength instead of weaknes. ALso had seen some weakness on JPY earlier. Not looking goof :slight_smile:

Best time to get out of trade taking aprox 80/100pips .

Hope you guys liked the post and see how a trader’s mind set should work… Always be on your guard and get out when you think trade is over. Keeping an eye on the fundamentals will give you a strong indication of where things are heading ! :slight_smile: