Tickmill
Short

CADJPY testing major resistance!

FX:CADJPY   Canadian Dollar / Japanese Yen
CADJPY             has reached our major resistance level and is starting to react strongly off it. Major resistance to keep an eye out on remains at 89.75 (61.8% Fibonacci retracement , 78.6% Fibonacci retracement , 100% Fibonacci extension , horizontal overlap resistance) and a strong drop could occur at this level pushing price down to at least 88.52 support ( Fibonacci retracement , horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below 100% where it is dropping nicely from now.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

This analysis is provided as general market commentary and does not constitute investment advice. We will not accept
Thank you for your analysis. Cheers bro.
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