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Short

CADJPY approaching resistance, potential drop!

FX:CADJPY   Canadian Dollar / Japanese Yen
CADJPY is approaching resistance at 89.30 (horizontal swing high resistance, 100% Fibonacci extension , 78.6% Fibonacci retracement ) and a strong drop might occur below this level pushing price down to our major support at 87.49 (horizontal pullback support, 61.8% Fibonacci retracement ).
Stochastic (89,5,3) is approaching resistance and we might see a corresponding drop in price should it react off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.

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