CADJPY short-term bullish burst | 20th Sep 2021

FX:CADJPY   Canadian Dollar / Japanese Yen
Price is reacting in between the triangle pattern on the daily time frame. Price is expected to bounce from the pivot level (in line with 61.8% Fibonacci projection and 78.6% Fibonacci retracement ) towards the take profit level in line with 61.8% Fibonacci retracement and descending trendline resistance. From the Stochastic indicator we can see that %K line is approaching the support line awaiting for a bounce.

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