CADJPY: Defense Barriers 🛡
Like most XXXJPY pairs this one is also extremely over-extended.
I find it hard to believe that market makers have made it so easy for buyers with a simple trendline breakout buy.
This will be liquidity to target when sells do become available.
That leads us to when sells will become available.
The answer is unknown but we do have two strong key psychological defence barriers around 104 & 105.
If this slows price and some manipulation occurs - we can sell down into my target levels.
Until then we must sit on our hands.
What is your view on this pair? 💬
I find it hard to believe that market makers have made it so easy for buyers with a simple trendline breakout buy.
This will be liquidity to target when sells do become available.
That leads us to when sells will become available.
The answer is unknown but we do have two strong key psychological defence barriers around 104 & 105.
If this slows price and some manipulation occurs - we can sell down into my target levels.
Until then we must sit on our hands.
What is your view on this pair? 💬
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