Today, I am attempting a sell position on CADJPY, with my stop loss set at 112.58 and my take profit at 112.11. On the M15 timeframe, CADJPY shows relatively steady selling pressure; while not particularly aggressive, the price remains consistently below the MA200.
My sell position on CADJPY hit its take profit level, resulting in a profit of $1.52. On the M15 time frame, CADJPY appeared to form a support area at the 1.1163 price level, followed immediately by an upward correction.