My trade is up 136 pips so far. Look to bring stops to lock in half of gains.
On May 15, 2009, I wrote:
'CAD/JPY has been in a steadily uptrending in a very well defined channel. It is currently at support.
Traders look to buy at support with stops just below support. Limit is double your stop in pips.'
Traders look to buy at support with stops just below support. Limit is double your stop in pips.'
My trade is up 136 pips so far. Look to bring stops to lock in half of gains. Look for 84.78 to provide some resistance as it is the 78.6% retracement level of the 85.90 to 80.10 down move. We would target the old May 11th high/channel resistance of 85.90
