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CADJPY approaching resistance, potential drop!

Short
Canadian Dollar / Japanese Yen (FOREXCOM:CADJPY)  
easyMarkets Broker  
FOREXCOM:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns CADJPY CAD jpy cadjpylong cadjpyshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern cadjpy cad jpy cadjpylong cadjpyshort forex forextrading forexsignals
CADJPY is approaching our first resistance at 85.90 (horizontal overlap resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong reaction might occur below this level pushing price down to our major support at 83.78 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price should it react off this level.
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