CAD/JPY 12.07.2017
Our expectations: The pair reached strong zone of resistance ( horizontals and main diagonal). Incapability for break of the zone gives us opportunity for a short position.
Alternative scenario: If the price breaks over the diagonal resistance, we may look for a long position with SL: 88.30.
Comments: Price action signal: Pin bar at level of diagonal and horizontal resistance. Technical indicator: CCI(50) - Turned in zone of overbought - when break level 100 the positive sentiment will decrease. DeM(14) - Also in zone of overbought - when turn south, the negative sentiment will increase.
SL: 89.20
Trader Bozhidar Arabadzhiev
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