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CAD/JPY - Trading plan


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I've been looking at the CAD/JPY pair for a few days now and after a strong uptrend the pair has entered in a state of correction for a few days on the H4 time frame, forming lower highs. Yesterday we saw a break of the H4 downtrend line and today the pair went out of an M30 consolidation it has formed. A quick pullback was observed shortly after, but the pair failed to re-enter back in that consolidation area and is now moving up. My opinion is that by the middle of next week or the end we can easily reach the next strong daily resistance area between 83.26 to 83.37.

Those of you who are interested in the pair drop a comment :) 

Also if you have questions regarding the plan don't hesitate to ask :)

 

 

Screen Shot 2019-07-05 at 17.12.46.png

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