Nice idea on CADJPY and there may be bearish bias as you have identified. For our set up, we have identified the key resistance and support levels. The resistance that we have found is at 85.50 (100% Fibonacci extension , 50% & 38.2% Fibonacci retracement , horizontal overlap resistance), which is in the resistance zone that you have identified. Stochastic reversed off its resistance where a corresponding drop could occur. If a drop does occur, we may want to look at the 84.99 support (61.8% Fibonacci retracement , horizontal swing low support). Looking forward to seeing how things develop. Please look at our idea and share with us what you think.