Seeing a lot of similar action in Yen pairs, and 
CADJPY is no different. Based on the higher time frames such as the daily and H4, I am thinking we will run into trouble up here at these levels and begin to push down. We're already seeing a double top here, and my entry would be off of a trigger sign, such as an engulfing candle or high test candle with lower highs. I need to see this thing clearly starting to roll over, and up high enough, to justify a short entry here. But I am liking what I am seeing and think this has downside potential.
CADJPY is no different. Based on the higher time frames such as the daily and H4, I am thinking we will run into trouble up here at these levels and begin to push down. We're already seeing a double top here, and my entry would be off of a trigger sign, such as an engulfing candle or high test candle with lower highs. I need to see this thing clearly starting to roll over, and up high enough, to justify a short entry here. But I am liking what I am seeing and think this has downside potential. Note
Covered @ $83.15.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.