CADJPY Is back on the Daily timeframe, Looking for a Sell Off

On the daily timeframe, CADJPY has returned to a significant zone that is anticipated to be a compelling selling area. A distinct harmonic pattern has formed on the daily chart, indicating a promising bearish setup at the highlighted resistance level. The expected downward movement is likely to result in a retracement or impulse that reaches, or falls below, the 38% level on the Fibonacci retracement scale.