FX.co ★ Trading idea for the CAD/JPY pair

Since March 2020, CAD / JPY has moved by a record 11,500. And today, it was able to break above 85.

Taking this into account, it would be profitable to open short positions, the strategy for which is presented below:

In the trading chart, set sell limits by approximately 50-100 pips. Select the volume in such a way that you can sit out movements that are 300-500 pips.

Of course, you still need to be careful to avoid losing money. Trading in this financial market is precarious, but profitable as long as the approach you use is correct. That said, always remember to monitor risks when opening a position.

Best of luck!