The world is waiting.

Waiting to hear YES or NO about the QE3 and about the European bonds purchases.

But as long as the market is moving based on rumors, all we will get is fake moves and false breaks and move attempts.

For today, I suggest following the CADJPY on 4H chart, as it might make a move soon.

As we can see, from one of the resistances levels the correction to the 4H 20 MA should begin, while the deeper support is the final target for the expected move. Protect with SL above higher resistance.

Have a wonderful day

Vladimir Ribakov