CAD/JPY Sell Limit opportunity at 80.14 for 1:2 risk/reward
|- CAD/JPY has broken structure to the downside in a bearish environment.
- The bears will be looking for an entry from the prior support now potentially turned resistance.
- The price is approaching the sell limit level at 80.14 for a target to downside structure and stop-loss above the recent retracement highs.
Hourly chart
15-min chart
Update: Breakeven achieved
Depending on the broker. 80.14 may have not been seen and thus the sell limit should be cancelled as the price moves on to create a new low and structure.
If the sell limit was triggered, the good news is the trade is now offering a breakeven minimum as the stop should be moved to entry.
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