Today I tried to sell CADJPY with a stop-loss order at 115.34 and a take-profit order at 114.82. On the M15 timeframe, CADJPY shows strong support at the last low, which was tested with a sharp rejection. This area is crucial because if it is broken through with a strong bearish candle and increased volume, the price will likely continue its decline to the next lower support level.
My open sell position on CADJPY today hit my stop-loss, resulting in a loss of $1.52. On the M15 timeframe, CADJPY successfully formed a bullish engulfing candle and then immediately rose. I believe CADJPY will continue to rise today, and we can look for buying opportunities.