Friday, April 19, 2013

CAD / JPY: 19/04/13. 12:18HRS

CAD / JPY:

CJ is in an uptrend.

Chart below:

 
Price has recently pulled back to the 61.8% Fibonacci Level.
 
Chart below:
 
 
Price has been in a small range over the past 48hrs.
 
Chart below:
 
 

 
Price has now broken out of the range made a Higher High.
 
I am looking for a long position on a pull back as detailed below
 
Levels and chart below:
 
1st Entry: 96.50
2nd Entry: 96.10
 
Averaged Entry: 96.30
 
Stop Loss: 95.75
 
Target: 99.05 (5%)
 
 
I will update again should the trade be triggered.
 
 
 
 
 
 
 
 

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