CADJPY Can We Expect A Bearish Move here

18 May 2021

Hello everyone:

CADJPY also is on my watchlist to look for a potential sell opportunity.

We can see price has pushed up from the expanding correction, but is not showing us a strong bullish price action.

Instead price is rather corrective and within an ascending channel correction.

From the HTF we know there is a potential double tops that the price is currently at, and all these lower time frame price action is indicating to us a potential bearish reversal could happen.

To confirm the downside move, first let the correction completes first, and wait for strong bearish breakout and a bearish continuation correction to form and look for sell entry down.

Thank you