CADJPY Will Fall! Short!

Take a look at our analysis for CADJPY.

Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish

The market is on a crucial zone of supply 105.385.

Taking into consideration the current market trend & overbought RSI, chances will be high to see a bearish movement to the downside at least to 101.727 level.

P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

Like and subscribe and comment my ideas if you enjoy them!