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CADJPY approaching support, potential bounce!

Long
Canadian Dollar / Japanese Yen (FX:CADJPY)  
Tickmill 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 support at 85.47 (horizontal overlap support, 23.6% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce might occur pushing price up to our major resistance at 85.81 (horizontal swing high resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (21,5,3) is also approaching support and we might see a corresponding bounce in price.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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