CADJPY approaching resistance, potential reversal!
CADJPY is approaching our first resistance at 85.06 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where a strong reversal might occur below this level pushing price down to our major support at 84.31 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding reversal in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding reversal in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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