As shown, the market is on a 4 hour down trend and reaching a trend line which has previously been rejected a few times. This is shown from the Trend lines drawn on this specific graph.
There is confluence in terms of the pair being considerably high on RSI, as well as considering the movements of the major corresponding pairs (USDCAD long + USDJPY short).
As demonstrated, this pair has reached to the bottom of the Daily Trend Line and has slightly broken through. When looking at the 4hr time frame, it is noticed that the pair is very considerably oversold on RSI. Instant entry or possibly wait for the market to reach support.