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CADJPY right on major support, prepare for a 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 cadjpyshort cadjpylong cadjpyanalysis cadjpytrade cadjpysell cadjpybuy
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trendanalysis harmonicpatterns chartpattern cadjpy cad jpy cadjpyshort cadjpylong cadjpyanalysis cadjpytrade cadjpysell cadjpybuy
CADJPY is seeing major support above 88.57 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur above this level to push price up to first major resistance at 89.55 (Fibonacci retracement, horizontal swing high resistance).

Stochastic (55,5,3) is seeing major support above 1.9% where a bounce is occurring nicely and has good upside potential for our rise.

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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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