Looking at CadJpy, we have some interesting bearish structure forming ever since we've rejected off of the weekly resistance level on the long-term charts. We have just recently broken some market structure by violating a daily significant support level with a bearish candle closure.
Before the bearish continuation, I anticipate that price will retest this level and extend back to 88.000. This psychological value adds some more validity and the structure of the level seems clearly defined. Just waiting on a break and retest of this level. Simple stuff.
Before the bearish continuation, I anticipate that price will retest this level and extend back to 88.000. This psychological value adds some more validity and the structure of the level seems clearly defined. Just waiting on a break and retest of this level. Simple stuff.
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