CADJPY Short Idea

28 May 2020

CADJPY

CJ has been bouncing around on this channel for a long time. There is a three drives pattern, indicating the market is exhausted with its current position. There is also a trend line and strong resistance at this point. A reversal down to the .382 is likely, and from there we could even see a break down to the .618 zone.

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29 May 2020

Not

Update - looks like price decided to turn around at the .382 we will se what happens now