CADJPY approaching support, potential bounce!
CADJPY is approaching our first support at 84.22 (horizontal swing low support, 50%, 78.6% Fibonacci retracement, 61.8% Fibonacci extension, short term ascending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 85.91 (horizontal pullback resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and a bounce off this level might see a corresponding rise 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 support and a bounce off this level might see a corresponding rise 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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