CADJPY Testing Support, Potential Bounce!
CADJPY is testing its support at 82.28 (76.4% Fibonacci retracement x2, horizontal overlap support) where price could bounce off from, causing price to rise to its resistance at 83.94 (61.8% Fibonacci extension, horizontal pullback resistance).
Stochastic (55, 5, 3) bounced off its support at 2.8% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
Stochastic (55, 5, 3) bounced off its support at 2.8% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
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