CADJPY - Technical Analysis

CADJPY

Every Yen pairs are overextended in the recent moves due to both fundamentals and weakening Japanese Yen. Price has reached weakly trendline and created an expanding flag and reversed. While that ascending trendline is broken and price has created a support level which I Indicated using the horizontal ray. Now the price is in small consolidation and by technical views price can still move to the downside, in that case wait for the support to get broken before making any moves.

For extra confirmation we can wait for a pullback if the break is aggressive or impulsive. No trade if the level is no broken and wait for another pattern or structure. 

    Disclaimer : This is not a financial advice , only for educational purpose