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MEX_Exchange

CADJPY approaching major support, prepare to buy

Long
Canadian Dollar / Japanese Yen (FX:CADJPY)  
MEX_Exchange  
FX:CADJPY   Canadian Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns CADJPY CAD jpy cadjpylong cadjpyshort cadjpyanalysis cadjpytrade cadjpysell forexsignals
84
0
trendanalysis harmonicpatterns chartpattern cadjpy cad jpy cadjpylong cadjpyshort cadjpyanalysis cadjpytrade cadjpysell forexsignals
Buy above 88.49. Stop loss at 88.19. Take profit at 89.20.
Reason for the trading strategy (technically):
Price is approaching major pullback support at 88.49 (Fibonacci retracement, horizontal pullback support) and we are expecting price to test this level before bouncing off nicely to continue its bullish channel exit potential to 89.20 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).
RSI 934) is seeing a pullback to support level signalling that we could be seeing a bounce soon.
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