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Canadian Dollar / Japanese Yen
Short

CADJPY testing major resistance, prepare for a potential reversa

By Tickmill
Broker

CADJPY is testing major resistance at 86.26 (Fibonacci retracement, Fibonacci extension, horizontal pullback resistance, pullback to descending resistance) and a strong reaction could occur at this level to push prices all the way down to major support at 85.86 (Fibonacci retracement, horizontal overlap support).
RSI (55) sees descending resistance line provide corresponding intermediate resistance.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.


CADJPYcadjpyanalysiscadjpybuycadjpyforecastcadjpylongcadjpysellcadjpysetupcadjpyshortcadjpytradeChart PatternsHarmonic PatternsTrend Analysis
Tickmill
Broker
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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