CADJPY has formed a potential double bottom reversal pattern on the daily chart, indicating a potential bullish reversal. Additionally, there is a divergence observed on the Relative Strength Index (RSI), further supporting the bullish scenario. Traders can consider entering a long position upon a breakout above the neckline. For risk management, set a stop-loss order below the double bottom pattern's lows and adjust position size according to account risk.
Trade closed: stop reached