Hello and welcome to my Trade Idea of the currency pair CAD/JPY.
Lets start with the Top Down Analysis.
Monthly: The monthly timeframe is bearish.
Weekly: The weekly timeframe is also bearish and 5 weeks ago a very big bearish candle has closed.
Daily: On the daily timeframe we see a consolidation.
H4: We draw the counter trendline on the h4 timeframe and wait for a confirmed breakout.
Have a nice day.
Lets start with the Top Down Analysis.
Monthly: The monthly timeframe is bearish.
Weekly: The weekly timeframe is also bearish and 5 weeks ago a very big bearish candle has closed.
Daily: On the daily timeframe we see a consolidation.
H4: We draw the counter trendline on the h4 timeframe and wait for a confirmed breakout.
Have a nice day.