HarrisonForexx

CAD/JPY - SHORT | HP Rating: 8

Short
FX:CADJPY   Canadian Dollar / Japanese Yen
HTF has multiple confirmations of where we were heading. The large ascending channel, the third touch missed but correlates with the DT on daily and many other factors. On 4HR we closed in a very impulsive move, high probability to have a 15M/1HR flag for entry to continue the impulsive phase. My only concern is we could see a rejection on the bottom of the structure which has a possibility of reaching the DT area again, with a possible ascending channel being formed which would look towards a reversal. Still doesn’t affect the overall expectation and the rating here, if that were to happen we are able to reevaluate if the market tells us something different.
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