Back on 8/15 We took a long position in the CADJPY with an average cost of 79.10. Along the way short termers took partial profits at 80.35 for 120 pips. We have traded back down and consolidated for the past week. We sat with 3 units through much consolidation as our position had lost some momentum, however it never broke our support levels.
Today we have risen up to 80.30 and are looking bullish once again.
Next resistance should be somewhere in the same 80.60 to 81 level.
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