Back on January 26th we shared CADJPY idea, where we mentioned and highlighted about a five-wave bearish impulse from the highs and that more weakness can be coming after wave 4 correction with resistance around 100 level. 

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As you can see today after two months, CADJPY dropped perfectly from projected wave 4 resistance and it’s already back to lows for wave 5.

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 Well, now that is trading 5th wave we can easily confirm bears back in the game, but after every five waves, there comes a three-wave correction. So, for any shorts it might be too late at this stage, but after a new higher degree A-B-C corrective recovery, there might be new short opportunities.

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