A small trade possibility. Market pretended to breakout here on very weak volume at strong resistance. and will probably retest the last higher low and may go lower.
This pair has been on the move up for a couple of days now, making steady progress with higher highs and higher lows. Projecting this into the future could lead us to the scenario above.
CADJPY has reversed the trend and made a considerable move up all through the day. RSI is overbought now and it is probably exhausted and gasping for breath. We might see a +- 0.382 retracement into previous structure before rallying into the minor support level on the daily chart.
The "Golden Cross" right in the PRZ (resistance zone) pushed Gold lower. The overlap of 61.8 and 161.8 acted as a wall on Gold attempt to cont. bullish move. The recent PA is in line with the overall bearish trend. However, the breach of 1146 hasn't happened yet. Since Gold made a new high, this Higher Low could show that 1131 was the bottom.