CADJPY 30min Analysis February 4th, 2021

Trade Scenario 1: Bullish - Price is consolidating and finding support at our key structure zone of 82.150. We are now waiting for a retrace back to 80.200 and for a clear HL to form. Enter on strong bullish setups.

Trade Scenario 2: Bearish - For us to go short we need to see price push below the 30min 200MA. We will then wait for a retrace and for our key structure zone of 82.150 to slip as resistance once again.