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CADJPY Local S/R| VWAP S/R| Price Action| Trend

Evening Traders,

Today’s analysis – CAPJPY- trading at resistance where a rejection is probable,

Points to consider,
- Price Action Impulsive
- Local S/R Resistance
(.618 Fibonacci and VWAP S/R Confluence)
- Low Volume
- Swing Low Objective

CAPJPY’s immediate price action is trading at a key trade location that has technical confluence with the .618 Fibonacci and the VWAP S/R, allowing for a bearish bias.

The current volume profile is below average, an influx is highly imminent when testing a key trade location.

The immediate objective is the Swing Low, exceeding this level will lead to a trend continuation.

Overall, in my opinion, CAPJPY is a valid short with defined risk, price action is to be used upon discretion/ management.

Hope this analysis helps,

Thank you for following my work

And remember,

“Confidence is not "I will profit on this trade." Confidence is "I will be fine if I don't profit from this trade.”
― Yvan Byeajee,

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