CADJPY approaching support, potential bounce!
CADJPY is approaching our first support at 84.69 (50% fibonacci retracement, 61.8% fibonacci extension, horizontal overlap support) and a strong bounce might occur above this level pushing price up to our major resistance at 85.22 (61.8% fibonacci extension, 61.8% fibonacci retracement, horizontal swing high resistance).
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
Stochastic (34,5,3) is also approaching support and we might see a corresponding bounce in price should it react off this level.
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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