CADJPY is testing the 1D MA50 in the form of support on bearish 1D technicals (RSI = 42.279, MACD = -0.050, ADX = 56.167). A 1D candle close under the 1D MA50 signifies a validation of selling extension as after the rejection on R1, the long term support of the HL trendline broke.
We will sell this week's consolidation, which isn't just taking on the 1D MA50 but the S1 (104.120) as well, targeting initially the S2 (TP1 = 102.245) and then the S3 (TP2 = 99.350) assuming the 1D MA200 breaks.
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We will sell this week's consolidation, which isn't just taking on the 1D MA50 but the S1 (104.120) as well, targeting initially the S2 (TP1 = 102.245) and then the S3 (TP2 = 99.350) assuming the 1D MA200 breaks.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial