The most interesting pair you can make money with - CAD/JPY

CAD/JPY: bearish breakdown. The pair was on bearish market condition located below Ichimoku cloud and Senkou Span line which is the virtual border between the primary bearish and the primary bullish trend on the chart. The price was stopped by 87.43 key support level and started to be ranging within the following key support/resistance levels:

• 93.24 key reversal resistance level located above ichimoku cloud in the primary bullish area of the chart, and
• 87.43 key reversal support level located below Ichimoku cloud in the primary bearish area.
  

We are having 3 simple scenarios for the price movement for the week:

• bearish breakdown to be continuing in case the price breaks 87.43 support level,
  
• bullish reversal to be started in case the price breaks 93.24 resistance,
• or the ranging within the key reversal levels.
  

Descending triangle pattern was formed by the price for the bearish breakdown to be continuing of broken for example.