From the high of the open gap we've seen a huge selling pressure wich confirm our view for a potential trend following trade to the short side. Short this micro uptrend (Channel)
Look at the Bottom of the falling wedge plus the swing low for a retracement up.
Correlation bullish on the CAD and we have a pattern of continuation
After a big impulsive move we can now see a beginning of a bull flag so we expect a continuation to the upside for a conservative target (DON'T FORGET TO MANAGE RISK!!)
On the 4hour chart we see that the buyers always made higher lows
Find buy signal on lower timeframes but be careful
Recent swing daily high is a very good location for buying
We are a skeptical about a short because we analyse others YEN pairs and we found that they are all in sell mode in the short term, mid-term.
Wait for the fakeout of the monthly HEAD N SHOULDER for a buy
Look for a possible double top on Daily timeframe