CADJPY approaching support, potential bounce!

FX:CADJPY   Canadian Dollar / Japanese Yen
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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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.


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