CADJPY: starting with short, and continue making new local HH

First short position, targeting a price of 160.00. My thorough analysis of the market signals a high likelihood of the exchange rate reaching this level in the near future. However, as the price approaches 160.00, I anticipate a temporary bounce upwards, driven by minor fluctuations and profit-taking from other traders. This rebound will be crucial as it presents a valuable opportunity to capitalize on a higher break through a significant resistance level.