CADJPY has formed a rising wedge that terminates at an unmitigated supply zone on the daily chart, expecting a bearish move, but could possibly run liquidity above the supply zone due to the old equal highs (double top) to the left. I’ll re-evaluate once price reaches the demand zone below, could possibly bounce from or break through that zone, which is why that move is marked with a dashed arrow because I’m uncertain about this zone.
Price reached the projected high pretty precisely but didn’t take the path that I expected. The projections are experimental, so I may be playing with forces that I don’t quite understand at this point.
So when are you looking to enter? Around 102 or looking for a move after it enters that second area?