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ICmarkets
Jun 4, 2018 3:06 AM

CADJPY approaching resistance, potential reversal! Short

Canadian Dollar/Japanese YenFXCM

Description

CADJPY is approaching its resistance at 84.94 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where a potential react could occur, causing price to fall to its support at 80.58 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 94% where a corresponding reaction could occur.
Comments
SonuGandla
stop loss at 85.150
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