CADJPY: Watching for a Break and Retest Short SetupCAD/JPYOANDA:CADJPYdarlwrightCADJPY remains on the watchlist as price tests a significant support level within a well-defined bearish trend. The primary scenario begins with a decisive break and close below support. If that occurs, I will be watching for a retracement back into the level, which should transition from support to resistance. The next requirement is rejection at the newly established resistance level. Without that rejection, there is no setup. Should the structure develop properly, momentum becomes the next focus. Ideally, momentum will be elevated and begin hooking bearish, providing additional confirmation that sellers remain in control. Current sequence: • Break and close below support • Retrace into resistance • Rejection at resistance • High momentum hooking bearish • Confirmation Until those conditions are met, CADJPY remains a watchlist market and not a trade. Patience is part of the strategy.