CADJPY Big Drop is ahead

Wave-Trader Updated   
OANDA:CADJPY   Canadian Dollar / Japanese Yen
Hi there,

CADJPY is testing the 786 of fib lines and forming very nice trend continuation pattern. Watch top for reversal.

How you can trade on this chart.

1. It is forming correction on lower time frame watch for that correction to complete and then look for breakdown and look for sell.


2. Simply wait for the price to test the top again and look for sell from top.

There is possibility for one more bullish wave before we see big drop on this pair if so then watch lower time frame for short term buy and then look for sell from new high.

In case price goes beyond the channel line it will not change the bigger pattern so we will remain bearish for longer term on CADJPY until we will see significant changes on this pair.

Good Luck .

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