CADJPY forms Bearish AB=CD pattern, good to sell on rallies
Harmonic Pattern – Bearish AB=CD pattern
CADJPY is consolidating in narrow range after hitting a high of 91.63 on Sep 15th 2017 high. It is trading between 91.49 and 90.41 for the past 4 trading session. It is currently trading around 90.90.
The near term resistance is around 91.65 high made on Sep 15th 2017 and any break above targets 92/92.44 (161.8% retracement of 91.63 and 90.41)/93.
On the lower side, major support is around 89.99 (Sep 14th 2017 low) and any break below targets 89.28 (38.2% retracement of 85.45 and 91.63)/88.07 (233- 4H MA).
It is good to sell on rallies around 91.10-91.20 with SL around 92 for the TP of 90/89.30.
CADJPY is consolidating in narrow range after hitting a high of 91.63 on Sep 15th 2017 high. It is trading between 91.49 and 90.41 for the past 4 trading session. It is currently trading around 90.90.
The near term resistance is around 91.65 high made on Sep 15th 2017 and any break above targets 92/92.44 (161.8% retracement of 91.63 and 90.41)/93.
On the lower side, major support is around 89.99 (Sep 14th 2017 low) and any break below targets 89.28 (38.2% retracement of 85.45 and 91.63)/88.07 (233- 4H MA).
It is good to sell on rallies around 91.10-91.20 with SL around 92 for the TP of 90/89.30.