CADJPY Short opportunity coming this week
Week chart: Price has broken horizontal support and made a new low on week chart. In this week, it is possible to test the support of previous high in March 2012.
Day chart: It can be seen a weak candle broke horizontal support on Friday. If price could stay below that level, it is possible to continue to go down and test next support. It would be better if price could test previous support as new resistance before going down.
4 Hour chart: Price has been going down for several candles and are now far away from two moving averages, I expect price to test downside trendline and horizontal resistance soon and give weak candle as short confirmation before I start to look for short entries.
Day chart: It can be seen a weak candle broke horizontal support on Friday. If price could stay below that level, it is possible to continue to go down and test next support. It would be better if price could test previous support as new resistance before going down.
4 Hour chart: Price has been going down for several candles and are now far away from two moving averages, I expect price to test downside trendline and horizontal resistance soon and give weak candle as short confirmation before I start to look for short entries.
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