CADJPY Is Approaching Resistance, Potential Reversal!
CADJPY is approaching resistance at 86.06 (61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance) where could potentially fall to its support at 83.36 (50% Fibonacci retracement, horizontal overlap support). We do have to be cautious of the intermediate support at 83.91 (38.2% Fibonacci retracement, horizontal swing low support).
Stochastic (89, 5, 3) is approaching resistance at 97%. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (89, 5, 3) is approaching resistance at 97%. We have also identified a bearish divergence with price which contributes to our bearish bias.
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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.