CADJPY is approaching our first support at 82.137 (horizontal swing low support, 50% Fibonacci extension , 78.6% Fibonacci retracement ). A breakthrough might occur at this level pushing price down to our major trendline support and confluence zone at
82.000 (horizontal swing low resistance, 76.4% Fibonacci retracement , Fibonacci extension ). A strong bounce might occur at this level to provide further bullish acceleration to our major resistance level of 82.8400 and beyond.
RSI (default) is also approaching its major support level at 50.08%
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
82.000 (horizontal swing low resistance, 76.4% Fibonacci retracement , Fibonacci extension ). A strong bounce might occur at this level to provide further bullish acceleration to our major resistance level of 82.8400 and beyond.
RSI (default) is also approaching its major support level at 50.08%
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.