CADJPY 30min Analysis January 25th, 2021

Price is in a strong down trend and we are looking to continue the bearish direction. For us to go short we would like to see price retrace back to our structure zone and the top of the descending channel around 81.550. We will then look to enter short on strong bearish setups at this zone.

For us to go long we want to first see price break above our key weekly level at 81.650. We will then look for a retrace and for a clear HL to form.