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ICmarkets
Nov 13, 2018 3:41 AM

CADJPY Bounced Off Support, Potential For A Further Rise Long

Canadian Dollar/Japanese YenFXCM

Description

CADJPY bounced nicely off its support at 0.7159 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 86.13 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal pullback resistance). Stochastic (89, 5, 3) is bounced off its support at 2.3% where a corresponding rise could occur.
Comments
CAS_Trading
totally agree, hope the risk-on scenario will be back in the markets this week.
have a look at my shorter-term idea, an inverse H&S spotted

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