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Shorting JPY Through The CAD/JPY Trade

Published 04/30/2013, 01:03 AM
CAD/JPY
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The chart below illustrates the entry point, stop, and target profit. The entry candle is highlighted; however, I put in an entry order to go long at 96 -- i.e. near the bottom of that wick -- when we saw a hammer at that level three candles prior. I plan to move to breakeven if price reaches 97.50.
<span class=CAD/JPY" title="CAD/JPY" width="1279" height="674">

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