CADJPY testing major resistance, prepare to sell

FX:CADJPY   Canadian Dollar / Japanese Yen
Sell below 87.82. Stop loss at 88.38. Take profit at 86.47.
Reason for the trading strategy (technically):
Price is testing major resistance at 87.82 ( Fibonacci retracement , horizontal pullback resistance, Fibonacci extension ) and we expect to see a strong reaction off this level to push price further down to 86.47 support ( Fibonacci extension , horizontal swing low support).
Stochastic (21,5,3) is also approaching major resistance at 95% where a corresponding reaction could occur.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out