What we can see in this chart is a bearish market structure for CADJPY. First of all, looking at the RSI index, CADJPY is overbought, therefore it is expected a decrease of the graph. Secondly, the line is continuing bouncing at an important resistance area, between 91 and 91.5, that corresponds also to a weekly Fibonacci level of 0.5 (that often represent a turning point). Finally, considering the movement from the bottom at 73.70 and tracking the Trend-Based Fibonacci extension, it can be seen that the line arrived at the level 1.68, usually a target area.
Stop Loss: 92.59 (strong resistance/support line) Entry Price: now (91.200) Take Profit: 86.280 (strong resistance/support line)