Today, I attempted a buy trade on CADJPY, setting my stop loss at 111.07 and take profit at 111.62. On the M15 timeframe, CADJPY underwent a rather extreme correction after previously dropping to 110.53.
The buy position I opened on CADJPY hit my stop loss, resulting in a loss of $1.82. On the M15 timeframe, CADJPY has started trading below the MA200, indicating a potential for a decline today; the short-term trend for CADJPY has shifted to bearish.