See daily chart of CADJPY below for the discussion that follows.
CADJPY is busy testing previous resistance as support. This would be a great place to reverse and resume the uptrend its currently in. If I see price action / candlesticks (as per my strategy) that confirms the support, I will go long.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.