CAD/JPY has been in an uptrend since the beginning of the year, respecting the blue trend line.
Since the beginning of the month the price has been following the green channel within the Blue Trend line.
The price has rejected a key resistance area and i expect a correction of the price to happen reaching the bottom green trend line.
This is shown by the grey path drawn.
In the bigger picture I expect the price to show a retracement/ correction until it reaches the Main Blue Trend Line.
Adding on to the confluence the 0.618 fib level intersects the Trend line, which is where the price is likely reach and show a reversal.
This is shown by the red path drawn.
Since the beginning of the month the price has been following the green channel within the Blue Trend line.
The price has rejected a key resistance area and i expect a correction of the price to happen reaching the bottom green trend line.
This is shown by the grey path drawn.
In the bigger picture I expect the price to show a retracement/ correction until it reaches the Main Blue Trend Line.
Adding on to the confluence the 0.618 fib level intersects the Trend line, which is where the price is likely reach and show a reversal.
This is shown by the red path drawn.