CADJPY on the MA50 (1d). Remains a sell.

CADJPY reached the MA50 (1d) for the first time since May 4th.
The pattern is a Channel Up and this correction since its top, still has room to go before bottoming.

Trading Plan:
1. Sell on the current market price.
2. Buy at the bottom of the Channel Up and above the MA100 (1d) at 102.550.
3. Sell if the MA200 (1d) breaks.

Targets:
1. 102.550 (bottom of the Channel Up and near the MA100 1d).
2. 109.500 (Resistance 1).
3. 98.000 (Support 2 and near the 0.786 Fibonacci level).

Tips:
1. The RSI (1d) is headed for the 30.00 oversold level. A rebound near it can match conveniently with a bottom on the Channel Up, hence a buy opportunity.

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