Davis
Short

Strong support/resistance

FX:CADJPY   Canadian Dollar/Japanese Yen
As you can see this previous resisntance has been like a floor. Once violated became support - now violated again, should become a resistance.
You still might wanna go on lower timeframe to check for better entering position however the downtrend might already have been started.
As for exiting Im looking at the 1.272 fib retracement and SL above that spike of last friday.

Also if you go on weekly chart there is downgoing channel and maby flag pattern?

Anyway this is going to be level im gonna watch as the markets open.

Good luck :)
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