The CAD/JPY is showing pinbar rejections off the W H3 resistance.
CAD/JPY Technical Analysis
Multiple Pinbars
The price is bearish
Lower highs
W L4 possible target
MEGATREND MAs: Bearish
H4 Chart CAD/JPY
Left shoulder
Head
Right shoulder
Target
The CAD/JPY is showing pinbar rejections off the W H3 resistance. The earthquake in Japan and China lockdown loosening policy turned Yen weak overnight. However as the price is still bearish we should see a move down. Megatrend MAs are bearish. Multiple pinbars confirm sellers. The entry in the zone 99.85-100.00 has been made. Possible targets are 99.30 followed by 99.02 and 98.46 as the final target.
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