CAD/JPY bearish rejection pinbars

Nenad Kerkez Top-XE

CAD/JPY technical analysis

● Multiple Pinbars.

● The price is bearish.

● Lower highs.

● W L4 possible target.

Megatrend mas: Bearish.

H4 chart CAD/JPY

1. Left shoulder.

2. Head.

3. Right shoulder.

4. 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.

Author

Nenad Kerkez

Top-XE

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