Last Friday CadJpy has finished the day putting in a big bearish engulfing on our daily chart and also this bearish engulfing translates in a Pin Bar on the weekly chart. Yesterday we have a Pin Bar on daily from exactly the same resistance and it looks like the pair is ready for a drop. In conclusion, rallies against resistance should be sold and 80 zone could be our target.
80.250-80.500
Should rally back up also and the highest point hit will be between 81.410 and 81.465.
Get ready to ride