CADJPY Sell Setup

Onto CadJpy, we could be seeing a classic Head & Shoulders reversal pattern forming. In the past, price was creating clear uptrend structure until the momentum was halted by the Weekly Resistance Level. Ever since then, we've been establishing solid downtrend structure that may look to continue in the future.

For now, price is floating around a Daily Resistance Level that looks to be well respected. If we could experience a strong bearish candle closure away from this level, it would signal me to go short. Just waiting for the right time.