CADJPY Looking For Sell Setup Again
Diupdate
Hi traders:
Similar like few of the JPY pairs that I have posted, CADJPY is once again shaping up for the sell.
from my previous CADJPY analysis, the price did impulse down aggressively, , but did not continue further after hitting the lows.
Price then reverse up to correct into an ascending channel reversal.
This is an indication price is once again developing into another bearish price action,
and we can still expect the downside potential as the higher time frame point of view.
Latest development shows a clear impulse down follow by a pennant/triangle structure, can confirm the downside continuation.
Now that price has impulse down, wait for correction to form and complete to give us another possible entry to the downside.
Thank you
Catatan
Higher Time Frame: Catatan
Price finally form the bearish correction that I was waiting for. Catatan
Watch for further bearish continuation price action Catatan
Further downside to break the lows if bearish correction form and complete Catatan
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