CADJPY Short Opportunity...BULLISH Strength Weakening!!!

As we can see, 161.8% level for CADJPY was achieved with further movement to the upside. However, we can see that 81.46 resistance is holding strongly with price level failing to break this level. This could possibly show a weakening bullish strength and the climb to 261.8% level might not occur from here. Instead, I will be seeing a bearish retracement back to 61.8% fibonacci level before further movement.

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