It's currently closed at what I would interpret to be a long-tailed at what looks to be the beginnings of a retracement. This has happened:
- after price hit the 0.318 Fib retracement which was produced by the last downtrend, and
- Price hit previous Kumo resistance.
I'm expecting prices to retrace to roughly around the (97.701)
which is also backed by four previous resistance turned support structures. This level also correlates nicely with the Dow 0.5 retracement.
Prices to retrace to roughly around the level (96.623) which correlates nicely with the offered by the previous leg downwards. This is also an area of very strong support levels.
After the retracement I'm expecting the CAD/JPY to continue upwards.