CADJPY ANALYSIS UPDATE

 CADJPY price rallied back to retest the BOS level on H1 & H4 at 106.700 & 106.430, taking out my entries and hitting SL. Price formed wick rejections inside BOS, candle closes inside BOS followed by a slight drop away from the bearish BOS confirming the bearish sentiment. Took sell re-entries during London session at 106.480 with SL at 106.750. Setup taken is still a drop base drop a continuation setup with my target still being at the next low at 105.180.

Price retraced back to the H1 BOS during the FOMC news release, formed rejection wicks followed by a strong drop away from BOS showing high bearish momentum during London session into NY session confirming the bearish sentiment. Price dropped 200 pips to 104.595, taking out the previous H1 low and target, forming a lower low on H1 & H4 and still showing more bearish potential till the next demand level on H4 and the daily chart at 103.703 & 102.587.