Tickmill
Short

CADJPY testing major resistance!

FX:CADJPY   Kanadischer Dollar/Japanischer Yen
CADJPY             has reached our major resistance level and is starting to react strongly off it. Major resistance to keep an eye out on remains at 89.75 (61.8% Fibonacci retracement , 78.6% Fibonacci retracement , 100% Fibonacci extension , horizontal overlap resistance) and a strong drop could occur at this level pushing price down to at least 88.52 support ( Fibonacci retracement , horizontal overlap support).

Stochastic (34,5,3) is seeing major resistance below 100% where it is dropping nicely from now.

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Losses can exceed the initial investment so please ensure you fully understand the risks.
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This analysis is provided as general market commentary and does not constitute investment advice.
Thank you for your analysis. Cheers bro.
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