CADJPY bounced nicely off its support, potential to rise!
Updated
CADJPY bounced nicely off its support at 81.683 (61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap support) where it has the potential to rise to its 1st resistance at 82.358 (100% Fibonacci extension, 61.8% Fibonacci retracement) or to its 2nd resistance at 82.764 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal pullback resistance). We have also identified another support at 81.324 (horizontal swing low support)
Stochastic (34, 5, 3) made a corresponding bounce of its support where it has the potential to rise further.
Stochastic (34, 5, 3) made a corresponding bounce of its support where it has the potential to rise further.
Trade closed: target reached
CADJPY rose nicely to our major resistance!
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