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CADJPY testing major resistance!

Oleh Tickmill
Broker
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.

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CADCADJPYcadjpyanalysiscadjpyforecastcadjpylongcadjpyshortChart PatternsForexforexsignalsHarmonic PatternsjpyTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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