Hi traders:

We can see here on CADJPY , after failed to continue after breaking the higher time frame double tops,
price begin to reverse down, hit the previous swing lows, and formed into a correction.

Price is in the process of the the bigger Head and Shoulder pattern,
and we can see clear impulse down from the continuation correction.

To confirm further downside potential, watch for lower time frame bearish continuation correction to form and complete,
before looking for the next move down.

In addition, if price manages to break below the previous lows, and continuation price action,
then expect further downside on the mid-long term outlook.


thank you


Higher time frame: