CADJPY testing its resistance, potential reversal!
CADJPY is approaching its major resistance at 85.25 (100% Fibonacci extension, 61.8% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal swing high resistance) where a potential reversal might occur, causing price to push down to its support at 83.51 (38.2% Fibonacci retracement, 50% Fibonacci retracement, Horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal might occur. We have also identified a bearish divergence with price which contributes to our bearish bias.
Stochastic (89, 5, 3) is approaching its resistance at 97% where a corresponding reversal might occur. 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.