CADJPY Reversal Incoming, Watch For Sell Setups

Hello traders:

Look like most of the JPY pairs could be starting the bearish price action we have been patiently waiting for.

Price is currently hitting a higher time frame double tops area, and correctively develop an ascending channel.

Within, we can see price also created a smaller ascending channel, and price reversed down impulsively, good signs of bearish price action.

Now that price is sitting at the bottom of the ascending channel, good to wait for another impulse out, follow by continuation correction to look for sell down to previous lows.

thank you

Komentarz: