Cad / Jpy has been trending down since the swing high was put in on 21/03/2012.
Chart below
Price pulled back last week and has now shown signs of continuing with the downward trend in the form of a double top at 81.63
A cross of the averages has taken place and I am looking to enter short.
I do not have the levels just yet as the chart is still oversold and I need price to pull back further to offer a better risk reward play.
Chart below
I will update once price and the stochastic has begun the pull back towards the averages.
Regards
Scott
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