FX.co ★ Daily Video Analysis: CADJPY approaching descending trendline resistance, drop incoming!

Today we take a look at CADJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is holding below the descending trendline resistance, showing signs of bearish pressure. We could potentially see price reverse at our sell entry level, in line with our 78.6% Fibonacci retracement and descending trendline resistance, and further drop down towards take profit level, in line with 61.8% and -27.2% Fibonacci retracement.