Hi traders,We took a trade earlier in the week and got some profits out of CADJPY. Now the pair is right back where it first started the up move, retesting the PRZ of the Bullish Shark (See earlier trade here)
Looking at the smaller TF, I can see that it has completed the Bullish Bat Pattern and reacting to the PRZ. However, this time I am a little more cautious as Poloz, the Governer of BOC, had come out to give a dovish stance on the CAD a couple of days ago.
Taking the long trade after the break above the falling wedge would be a safer bet to get involved in this trade. Let's be safe and trade well.