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CAD/JPY currency pair analysis

The ascending wave structure is truncated. The Awesome Oscillator indicates bearish divergence, and the Stochastic Oscillator indicator signals overbought.

Trading idea:

Sell on the formation of a downward wave structure, where wave (A) breaks the inclined channel of the upward truncated structure.

Stop-loss at the local maximum of the ascending structure.

Target levels: 104.90; 103.27.

Author: GC
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