CADJPY testing major resistance, prepare for a potential reversa
CADJPY is testing major resistance at 86.26 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, pullback to descending resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 85.86 (Fibonacci retracement, horizontal overlap support).
RSI (55) sees descending resistance line provide corresponding intermediate resistance.
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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results