CADJPY facing bearish pressure | 13 Apr 2021
CADJPY is facing bearish pressure from a tentative descending trendline resistance as well as horizontal swing high resistance. Prices might push down towards horizontal swing low support, in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement. If prices break past the swing high, prices might face resistance from 61.8% Fibonacci retracement and 50% Fibonacci extension. EMA is also above prices, showing a bearish pressure for prices.
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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.