CADJPY Testing Support, Potential Bounce!
CADJPY is testing its support at 82.28 (76.4% Fibonacci retracement x2, horizontal overlap support) where price could bounce off from, causing price to rise to its resistance at 83.94 (61.8% Fibonacci extension, horizontal pullback resistance).
Stochastic (55, 5, 3) bounced off its support at 2.8% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
Stochastic (55, 5, 3) bounced off its support at 2.8% where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish 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.