CAD/JPY Signal- November 28, 2012

|

By: DailyForex.com

Currency: CAD/JPY
Method: Elliott Waves
Description: Looking at the weak Japanese retail trade and %100 correction that hit 83.200, I expect a drop in the pair toward 0.50 Fibonacci toward 80.00 price point. technically, the trend broke resistance level at 82.600 and further drop is strongly in view. I would gamble CAD/JPY this morning for nearly +250 projected profit.
Recommendation: Sell and Hold
Stop Loss: 83.500
Target: 80.000

CADJPY Signal 112812

Fadi Steitie is an entrepreneur, investor and professional Forex trader who shares Forex signals based on his keen understanding of the market. Fadi is an expert in Elliott wav principles and Ichimoku Kinko Hyo, and he is a managing partner in one of the leading organizations in protective coating in the Gulf region.

In addition to sharing his trades as a member of the DailyForex trading team, Fadi is an expert trader on eToro, a social platform that allows traders to copy experts quickly and easily. Copy Fadi's trades on eToro here.