CADJPY H4: Bearish outlook seen, further downside below 97.80

2 ก.พ. 2023

On the H4 time frame, prices are facing bearish pressure from the resistance zone at 97.80, in line with the 78.6% Fibonacci retracement and 61.8% Fibonacci extension. A pullback to this zone presents an opportunity to play the drop to the support zone at 94.80, in line with the graphical low. Stochastic is approaching the resistance at 86.37 as well.