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CADJPY approaching resistance, potential drop!

Short
Canadian Dollar / Japanese Yen (FX:CADJPY)  
easyMarkets Broker  
FX: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 86.25 (horizontal overlap resistance, 23.6% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 83.84 (horizontal swing low support, 76.4% Fibonacci retracement). A breakout of our intermediate support at 85.82 (61.8% Fibonacci retracement) might provide the bearish acceleration to our major support target.
Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (34) is also seeing a bearish exit in line with our bearish bias.
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