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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