CAD/JPY - Continuation To The Downside

Hello Traders! Welcome to my post, today we are looking at CAD/JPY and we have identified the following confluences to support this high-probability setup:

-50.0% Fibonacci retracement
-H4 100 MA
-H4 Strong bearish momentum
-Broken ending diagonal pattern

Stop Loss: 83.150
Targets: 82.000, 81.550, 81.200

Risk to Reward Ratio: 2.75

Thank you for reading this idea, I hope you learned something and I hope that this analysis will be beneficial for your trading.

Feel free to share your opinion in the comments section below or send me a message in regards to any questions, feedback or suggestions that you may have.

If you consider this valuable to you, please show your support by hitting the Like button and Follow River Think for trade updates and more trade ideas!

Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.

Join my FREE Telegram Channel for more updates - https://t.me/river_think
Follow my Twitter - https://twitter.com/river_think
Follow my Instagram - https://www.instagram.com/riverthink/