As we can see price on CADJPY has broken the channel it was going up in to the downside and then started to create this wedge we are looking at right now. I am biased to the short side for when there is a breakout of this wedge since price on this pair has seen a very strong move to the upside. I will short this pair to the previous support which is a good 150 pips. In the case if this wedge breaks to the upside I will not take this trade.
Let me know in the comments below about how you feel about CJ!
Let me know in the comments below about how you feel about CJ!