CADJPY: Bullish Momentum vs. Overextension Risk!Canadian Dollar vs Japanese YenPEPPERSTONE:CADJPYfxtraderanthony🚀 CADJPY Analysis 🚀 CADJPY is in a strong bullish trend on the 4H chart, with momentum still pushing higher. However, I’m noticing signs that the pair might be overextended 📈. While there could be a bit more upside, both the weekly and daily timeframes show price pushing into previous highs, which often leads to a retrace back to equilibrium ⚖️. 🔍 Key Levels: I’m watching the Fibonacci 61.8% retracement for a potential pullback, with the 50% level also marked as a key equilibrium zone. I’m not looking to go long at these elevated prices—prefer to wait for a healthy retrace for a more optimal entry 🎯. 💡 Macro Consideration: We also took a look at the NASDAQ 🧑💻, since tech stocks can impact the JPY as flows move between risk assets and safe havens. With a lower high forming on the NASDAQ, risk sentiment could shift, impacting CADJPY as well. 🗓️ It’s Monday—let’s trade cautiously and wait for the best setups! Patience pays. Not financial advice.