FX:CADJPY Canadian Dollar/Japanese Yen
CADJPY fell off the cliff after the little pattern that we covered yesterday. That was formed at the 98.10 and at the time it formed, the indicator and ( ) where in the overbought area which increases the odds of selling that pattern. That little alone has lead to a 130 pip drop in the price. After the drop, we could see the price gradually climb to the 97.50 and once again the indicator and are showing the price is overbought. The (ATR) is currently showing the volatility is low. With all that being said, we could potentially have great selling opportunities in today's London session.