CADJPY Reaching A Level of Resistance!!!

As we see a strong BULLISH movement upward, price is reaching closer to a 461.8% fib movement. Also, there is a strong resistance level @88.86 price level where I expect some BEARISH pressure on this pair. We could be eyeing for a potential short position from there towards 361.8%. If the BULLISH strength remains, we should see a rejection there, brining price to a higher level. However, I am anticipating a larger retracement as of now. With that, I see price potentially heading towards a strong support @84.94, also where we might see a rejection from the cloud. Definitely, if price continue breaking out of the cloud, our BEARISH bias will still stand. For that, I will update when price heads closer to that level. As of now, I see a short opportunity till 361.8% fib level and possibly support level @84.94.

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