CADJPY Trade Idea (14th January 2020)

Currency Pair: CADJPY
Timeframe: H1
Date/Time of Signal: 14th January 2020 / 1430hrs (SGT)

Review:

With the release of the positive Canadian employment data last Friday (10th January 2020) and with anti-risk Yen depreciated as investor sentiment improved ahead of the anticipated “phase-one” trade deal signing between the China and the US. Expectation for CADJPY to continue the uptrend.

CADJPY is on a uptrend and have broken the resistance level of 84.20.

Following the trend, trade signaled to buy CADJPY (Entry: 84.31) with 3 Take Profit (TP) Targets (TP1: 84.51, TP2: 84.71, TP3: 84.91) and Stop Loss (SL) at 84.01.