It's possible to see further declines, but we need the chart to give us a valid time at mode trend signal to short it again, namely a correction before a new sharp decline. It's also possible this happens in a small timeframe and might not be observable in the daily, so I'll be monitoring for entry carefully.
It's clear that USDJPY has been leading USDCAD in the uptrend from the 2013 low to date, so I'm fairly certain it'll slide down some more once USDJPY resumes the decline to 113 or even as low as 102.
I've closed my equity longs for the time being, and will start looking for associated setups.
If interested in coaching and/or trading signals, contact me directly. I'm currently providing a special promotion for the coming week, since I think this and next week will give us probably some of the best trading opportunities of the year.
I closed my longs with 2.75% profits, but didn't reshort.
Now usdjpy is retracing, the relationship between these two pairs is excellent, a very useful pattern.
Long term target.
We also have a new potential time at mode downtrend signal.