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CADJPY Will Fall! Short!

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Take a look at our analysis for CADJPY.

Time Frame: 2h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is approaching a significant resistance area 107.379.

Due to the fact that we see a positive bearish reaction from the underlined area, I strongly believe that sellers will manage to push the price all the way down to 106.107 level.

P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.

Like and subscribe and comment my ideas if you enjoy them!

交易結束：目標達成

That was an excellent trade and the target was reached too!