CADJPY right on major support, prepare for a potential bounce
CADJPY is seeing major support above 88.57 (Fibonacci retracement, horizontal overlap support, Fibonacci extension) and a strong bounce could occur above this level to push price up to first major resistance at 89.55 (Fibonacci retracement, horizontal swing high resistance).
Stochastic (55,5,3) is seeing major support above 1.9% where a bounce is occurring nicely and has good upside potential for our rise.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is seeing major support above 1.9% where a bounce is occurring nicely and has good upside potential for our rise.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results