The pair made an indecision candle at the resistance zone on Friday. The overall trend is bullish, so this will be a counter-trend trade. The plan is to wait for a break/close below the low of the Daily candle of Friday or a previous Daily candle, should the pair move higher to the next resistance. The SL should be round 92.850 as this was also a strong resistance area in the past or traders could wait for a H4/Daily close below 91.00 for a more conservative entry. The target will be around 87.00 support area at the time of writing this post We will need to see a stronger Yen and weaker CAD for this trade to play out and there are some high impact news scheduled for this week with CAD CPI and retail sales news on Friday. BE PATIENT!

CADJPY COUNTER TREND SET UP 17 SEPT

Source: MARYNA

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