加元 / 日圓

CADJPY 30min Analysis February 2nd, 2021

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Trade Scenario 1: Bearish - Price is currently at our key supply zone of 82.200. For us to go short we are looking for further rejection at this zone. Wait for further consolidation, double tops, and other bearish formations to form. Enter short on strong bearish momentum off the supply zone.

Trade Scenario 2: Bullish - For us to go long we need to see price break above our supply zone with conviction. We will then wait for a retrace and for price to find support around 82.200.

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