CADJPY RETRACEMENT

Looks like CADJPY is going to have a bit more of a prolonged retracement here, we are still in a major downtrend but I'm not totally convinced that it's not a big pullback in the long run we have had all year. Regardless the smaller 1hr downtrend ricocheted pretty hard and we have crossed the centre of the 4hr Donchian channel, pulled back and tested a big support, dont like the MAs here so tread lightly but it looks like we could easily retest that swing high from last nights uptick, possibly even more than that.