Extended down move at an end at 50% fib level?

The long down move of the USDCAD stopped at the 50% fib level of the last bullish up move. If it holds the probability of retesting the old high is pretty good. If the fib level does not hold, we could see a move down to the 61% fib or more.

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We broke (=closed) higher yesterday and now it looks like USDJPY is getting ready to rally upwards. Time to enter.