Hello traders, welcome to another market breakdown.
CADJPY has been trading in bullish trend this year. However, price action on the weekly time frame seggusts a deep bull back or a reverse around previous highs.
Bears want somekind of a lower high, double top, or micro-double top to make this trade with high probability.
Checkout the chart for what I'll be waiting for and monitering on lower time frame to get a short position.