Good day traders, As CADJPY reaches the level of 80.00- IF we get a Weekly rejection or close below it could signal a new Bear trend (continuation) of main trend after slight correction.
A weekly close below 80.00 is needed, if closed above then the Analysis is invalid & target price would be 85.00.
Two trednlines (In Red) are Weekly. Rejection at 60% (1.81348) & 50% (1.80304) Daily chart Fib levels are clear. Selling the Evident Bearish drop entries below 1.79352> TP is at Bottom of Weekly Trendline 1.76145.