For Traders

Analytical Reviews

Technical analysis

31.03.202114:27 Forex Analysis & Reviews: Trading idea for the CAD/JPY pair

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Since March 2020, CAD / JPY has moved by 11,500 pips, in which it even managed to break the all-time high last 2019, trading above 85.

Now, it is storming the 85th figure again, which suggests that it is time to set-off a decline, the strategy for which is the following:

In the trading chart, place sell limits by around 50-100 pips. Select the volume in such a way that you can sit out any movement that is 300-500 pips.

This should work since CAD/JPY underwent strong movements in the market without experiencing any pullback. But of course, you still need to be careful to avoid losing money. Trading itself is very precarious, but profitable as long as the approach used is correct.

The plan above is what we call "Grid Trading".

Good luck!

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.