💱CADJPY - A retest of support will send the price down

2 окт. 2023 г.

CADJPY breaks uptrend support and after another correction forms a signal that suggests that the market is preparing for further decline

TA on the high timeframe:
1) After breaking the 109.268 support, a correction is formed. In the medium term, the price may test this line before further growth
2) The market is interested in the liquidity area below 109.336 and 0.5 Fibo level.

TA on the low timeframe:
1) A break of trend support is forming - a risk zone for price. The market is rebuilding
2) The level of 109.938 is formed and after a small correction to 110.3 the price returns to the support and forms a signal.
3) Breakout of 109.938 and price consolidation below the level will form a sell signal.

Key resistance📈: 110.37
Key support📉: 109.938 and 109.226