Long Trade For CADJPY...Bouncing off this level!!!

Previously, we successfully short this pair with a potential target to reach the current price level if BEARISH strength continues. We saw the breakout bring us to near 78.80 price level. From here, I am seeing a high possibility rejection off this support level as we aim for a nice 61.8 fib level retracement before further movement. Could be seeing it range around this area without any clear direction of movement. There will also be a nice resistance level at the 61.8 fib level signaling a strong resistance pressure on this pair. Will be a good long opportunity for now till we see that price level.

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