CADJPY – SELL – 31st August 2021

CADJPY – SELL – 31st August 2021 (Closed)

Afternoon team,

Very frustrating on the EURNZD this morning, if anyone can find any info on why the NZD went crazy please let me know. The theory behind the trade was to do with commodity currencies looking like they will move lower today. This includes the AUD, NZD and CAD.

The CADJPY has broken down from a bear flag structure, and oil prices appear to be in a correction phase.

CADJPY 1 Hour chart

Trade Setup: SELL Market execution, current price 87.03, stop loss 87.43 and take profit 86.43.

Stop loss: 40 pips

Take profit: 60 pips

Trade Setup
SELL - Market Execution

Entry
87.03

Take Profit
86.43

Stop Loss
87.43