CADJPY is approaching its resistance, potential for a drop!
CADJPY is approaching its resistance at 83.555 (100% Fibonacci extension x2, horizontal swing high resistance) where a reaction could happen, causing price to fall to its 1st support at 82.689 (38.2% Fibonacci retracement x2, 23.6% Fibonacci retracement x2, horizontal pullback support). If it breaks past this support, it could fall to its next support at 81.633 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support). We have also identified another resistance at 84.768 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is testing its resistance at 98.4% where a corresponding reaction could occur.
Stochastic (55, 5, 3) is testing its resistance at 98.4% where a corresponding reaction could occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.