CADJPY testing its resistance, potential reversal!

11 апр. 2018 г.

CADJPY is approaching its major resistance at 85.25 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where a potential reversal might occur, causing price to push down to its support at 83.51 (38.2% Fibonacci retracement, 50% Fibonacci retracement, Horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal might occur. We have also identified a bearish divergence with price which contributes to our bearish bias.