The CADJPY Short is looking like it might be a good counter trend trade on the 1h chart soon.
It tore away from the 800sma on the 1h chart without any retracement at all.
A close below 86.50 could mean a retracement to at least 85.75, if not all the way down to 85.
Due to the rush to commodity backed pairs right now CAD strength may keep it from triggering however, so for now, I’m just watching it.
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3 daily pivots missed on this guy… 85.51, 84.19 and 82.49