CADJPY approaching support, potential bounce!
CADJPY is approaching our first support at 84.54 (horizontal swing low support, 23.6% Fibonacci retracement) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 85.75 (horizontal swing high resistance, 100% Fibonacci retracement).
Stochastic is also seeing a bullish divergence and is bouncing off support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic is also seeing a bullish divergence and is bouncing off support where we might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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