The way the market move recently is a typical move and structure that I recognize to repeat itself and play over and over again. All risk currency keep going higher and higher in a corrective structure. Evenmore, they break significant inflection point area in just to retrace back impulsively like this. This is a common price move to catch more and more people on the wrongside of the market before the big real move start to happen. I do believe starting from now we will start to see a risk-off mood across all currency pairs, and when it does play, CADJPY is surely one pair that we must keep an eye for.
In this pair, we can see a really nice ascending structure in multi high TF and it already showing us a nice rejection from the top of it.
I will wait for any break of continuation flag structure (minimum in H1 TF) to confirm the move to the downside.
I will just let the target open while trailling sl along the way as the market start to give a momentum. Lets see how far can this pair go.
On another hand, eventhough I see it as a least probable outcome, if the price break above the 25th February high at 85.100 area, it will nullify this forecast and I will wait for the market to shows it hand first by forming a better structure to see.
For now, let’s see how will this pair develop, good luck..
Here is the MOA FX , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the MOA Fx strategy will trigger.