Cadjpy is ready to FALL

The cross is approaching a trendline and has created a bearish Cypher pattern ( we can also see a shar pattern completed on 0.886% of XA leg reached by a spike of a H4 candle), in addition there is a clear hidden divergence in RSI. Japanise yen is still strong because Covid crisis has not finished yet and some counties like South Korea and China has registred new cases; if we look at COT we see that speculators are short in CANADIAN DOLLAR and long in JAPANESE YEN, they have increased their position during last week.
I suggest to open a sell trade using a good money management, if price breaks up the trendline close in loss.
Good trading
Francesco

Trade fechado: objetivo atingido:

Take profit has been reached 💯💯💯👏👏👏 follow me to get my free signals