CADJPY approaching support, potential bounce!
CADJPY is approaching our first support 83.93 (horizontal pullback support, 100% fibonacci extension, 23.6% fibonacci retracement) and a strong bounce might occur pushing price up to our major resistance at 84.74 (horizontal overlap resistance, 61.8% fibonacci retracement).
Stochastic (21, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (21, 5, 3) is also approaching support and we might see a corresponding rise in price should it bounce off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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