CADJPY - 15 mins Sell

Key Observations:
Current Market Context:

The price has broken below significant support levels, creating a bearish structure.
The market has formed a rising wedge near a resistance zone (a bearish continuation pattern), which aligns with further downside potential.
Key Resistance Levels:

Immediate resistance is at 109.40, which aligns with the previous Rising Wedge formation and serves as a rejection point.
A secondary resistance level is 109.80-110.00, where significant bearish order flow could resume if retested.

Support Levels to Target:

Short-term target: S3 (108.91), the next major pivot level.
Extended target: S4 (108.41), which aligns with the broader bearish momentum.
Bearish Momentum Indicators:

The market has already broken below the S2 pivot level (109.42), confirming bearish momentum.
The distribution and prior top (Top 1 and Top 2) zones indicate smart money selling, further supporting a sell bias.

Moving Averages:

The shorter-term moving averages (yellow and gold) are trending downwards, crossing below the longer-term moving averages (purple/blue), confirming bearish alignment.
Volume and Confirmation:

Look for price rejection near the resistance zone at 109.40 with bearish candlestick patterns (e.g., bearish engulfing or pin bar).
A failure to reclaim the pivot at S2 (109.42) will also validate the bearish continuation.