The CADJPY rising wedge has been forming since the August 24th session low at 87.33 and is nicely defined. If you have followed me for any length of time, you have undoubtedly seen this pattern featured several times over the last few weeks. However, I felt the need to comment on yesterday’s session as it was the pair’s first time back to former wedge support as new resistance. While the pair did manage to rally for nearly 100 pips, it fell short of closing back above the key level. Note that in the recent weekend commentary I stated, “my bearish bias will remain intact while below the three-month trend line on a ... (full story)