CADJPY Chart Technical Outlook

CADJPY Chart Technical Outlook just spotted this crazy pattern going into the Canadian inflation data this afternoon. This is the monthly chart. The target level would be 51.11. The stop loss would be placed at 110.55. This is a breach of the swing high. This offers a whopping 71R for those looking for a high-risk and extremely high-return trade. Also, I have no idea what the funding costs would be. It may be wise to look at a futures contract.

We will be happy to hear your thoughts

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