November 12 – Potential intraday setup


CADJPY intra day Forex setup

As per the above Daily chart of CADJPY, price has broken about the recent daily highs and currently on pull back. 

The reason for adding this Forex pair to my current watchlist is due to the fact that price was able to successfully break and close above the recent highs at $80.50 and now in the pull back as traders are taking profit from the break and close to testing the 61.8 Fib level. I will be tracking this pair on the 4 hour and 1 hour timeframe for a potential entry setup. 4 hour timeframe shown below

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