CADJPY - Incoming correction / break from pattern

PAIR IN FOCUS: CADJPY
ACTION: SHORT
HORIZON: SHORT TO MEDIUM TERM

Price is currently in a rising wedge pattern and faces a bearish RSI divergence on both H4 and H1 time frames. We can look for short opportunities with bearish price action as confirmation. Conservative traders can wait for a clean break of the pattern before considering entry. It is possible for price to have a fake breakout upwards of the pattern with continued divergence -- this poses a better entry point and R:R for this trade set-up.

The TP Zone is indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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