Week 34: CADJPY - Bear Biased

Similar as AUDJPY, there was a slight correction after 2 weeks of bearishness and I am expecting the bearishness to continue. After a slight run up, price was unable to break the Resistance at 87.396 twice and was followed by a bearish engulfing candle. I have a position from around 2 weeks ago and will look to add short if price is able to retrace to 87.396.

If price is unable to retrace to 87.396 and continue with its bearishness, I will let the current position run.