CADJPY approaching support, potential bounce!

FX:EURCAD   Euro / Canadian Dollar
CADJPY is approaching our first support at 1.4963 (horizontal swing low support, 100% Fibonacci extension , 76.4% Fibonacci retracement ) where a strong bounce might occur above this level pushing price up to our major resistance at 1.5219 (horizontal swing high resistance, 38.2% Fibonacci retracement ).
Stochastic (21,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.


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