First of all this pairs is on a DOWN Trend but what makes it more valid to me is the fake break out that happened last Friday.
That fake break is telling us that JPY is much stronger than CAD right now.
Second we saw oil making new lows last week which will continue to do so at least 2-3 more weeks.This will influence CAD prices to make new lows
Third JPY is shining right now in all its pairs.
Just waiting for the price to test the upper line of the channel than we can short cad on this trade for 60 fast pips !
That fake break is telling us that JPY is much stronger than CAD right now.
Second we saw oil making new lows last week which will continue to do so at least 2-3 more weeks.This will influence CAD prices to make new lows
Third JPY is shining right now in all its pairs.
Just waiting for the price to test the upper line of the channel than we can short cad on this trade for 60 fast pips !