FX.co ★ Trading idea for CAD/JPY

CAD / JPY soared and hit a new all-time high, above 88.2.

Taking this into account, bearish traders can work for a pullback by following this strategy:

Since the pair broke another resistance level, players can place new sell limits at every 50 pips. Select the volume in such a way that 300-500 pip movements can be sit out. Then, take profit as soon as the quote hits 85.4.

Of course, it is important to be careful so that we can prevent any losses. Remember that trading is precarious, but profitable if the approach used is correct.

Good luck!