emiltw

Wait for further setup of Loonie Yen

FX:CADJPY   Canadian Dollar/Japanese Yen
16 0 1
In the daily chart , we can see that the rising trend line currently acts as resistance line of current price,
and the falling trend line acts as the resistance of the current price too,
this makes both the falling and rising trend line creating a confluence, but the direction is still unclear,
the major trend is still a downtrend, so high possibility that the price once meets the 0.618 Fibonacci ratio, the price could drop, but there's also another possible outcome which that the price could be a breakout.

So wait these days candle close for further confirmation
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