CADJPY has most recently broken the ascending trend-line of a higher time-frame ascending channel. After the break of structure, the market has created a bear flag which is ascending in a corrective manner. With that said, the market is at a level of support and previously acted as resistance. On the 1 hour time-frame we can see a double top formation which indicates a bear market ensuing.
Should you wish to enter this market, use your own discretion, and analysis.
Should you wish to enter this market, use your own discretion, and analysis.