CADJPY Analysis 29.11.2019

The round intermediate level of 82.50 holds back buyers. A bearish divergence formed on Awesome Oscillator and Stochastic Oscillator. Probably, the upward movement is a wave (B) of the downward construction of the D1 level.

Trading recommendations:

Sell strictly while the descending wave pattern is forming, where the wave AU breaks through the inclined channel of the ascending pattern + (BC) = sell on the breakthrough of the minimum wave AU. Entry point on pullback B. 

Stop Loss is on the round an intermediate level of 82.50.

Target levels: 81.80 (move to breakeven); 81.50 (trap for pros); 80.80 (123.6%F. from a D1).