CAD/JPY moved by over 16,000 pips this year, recently hitting a new peak.Traders can take this as an opportunity to open sell limit orders in the pair.
Starting from the current prices, place a grid of sell limits at an increment of 1,000 pips. After accumulating short positions, exit the market with a take-profit order upon a breakdown or after a movement from the first order.
Called as grid trading, this method, which is usually used on cross rates, involves holding positions that are significant in both time and distance. For that reason, it is recommended to use swap-free accounts, not increasing the volumes in the grid (0.01 standard lot for every $1,000 of the deposit), and monitoring price movements that could be as much as 12,000 pips.
Good luck in trading and don't forget to control the risks! Have a nice day.
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