ForexAnalytix
Long

CADJPY may have posted a false breakdown.

FX:CADJPY   Canadian Dollar / Japanese Yen
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The CADJPY found support at the long term 78% retracement and came very close to the 127% Fibonacci extension of the summer move higher. The fact that we probed through horizontal support and closed near the breakdown point at the 80.00 level may leave room for a sharp rally as shorts look to cover.
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