CADJPY - Awaiting Close below Bear Flag Formed
The Charts are showing plenty on technical supporting further downside to the CADJPY pair.
It has been held down on the 50% Fib retracement tool a number of days on the daily close.
It is currently in a bear flag and using the bottom of it for support.
Price Action is also showing signs off stronger rejection from the Strong resistance at 88.00.
I will await a break and close before entering a trade
With Oil prices falling this could help the CAD weaken off and support this bias
It has been held down on the 50% Fib retracement tool a number of days on the daily close.
It is currently in a bear flag and using the bottom of it for support.
Price Action is also showing signs off stronger rejection from the Strong resistance at 88.00.
I will await a break and close before entering a trade
With Oil prices falling this could help the CAD weaken off and support this bias
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