Lingrid | CADJPY Strong Resistance Barrier Selling OpportunityCanadian Dollar/Japanese YenFX:CADJPYLingridThe price perfectly played out in my last idea. CADJPY is stalling at the major resistance area after tagging the October 2024 high near 112.50, where price previously reacted with sharp selloffs. Price action shows an extended move within the upward channel, forming a potential exhaustion pattern as price rejects both the resistance band and the upper channel boundary. If buyers fail to hold the support, a pullback toward 111.00 becomes the likely scenario as the market cools off from overextended levels. ⚠️ Risks: A clean breakout above 112.50 would invalidate the selloff scenario and expose 113.20–113.50. Unexpected JPY weakness could fuel another impulsive leg upward despite resistance. Holding above the trendline support may limit the depth of any correction and keep CADJPY consolidating instead of reversing.If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!