The Yen pairs are setting up for another round of Yen strength and one of the best opportunities will be provided by CADJPY. I'm looking for a minor consolidation before entering short. Since CADJPY is in a complex correction on higher time frames we have to keep in mind that what looks like an impulse might not show any follow up. Nevertheless structure looks good for a sell set-up soon. Let's see whether it breaks bearish.
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I didn't short CADJPY after the break due to price action and the fact that I didn't see a consolidation. However I think there is a possibility that this current consolidation is not over yet. Which will present a better sell opportunity once wave C is in place.
