CADJPY approaching support, potential bounce!
CADJPY is approaching our first support at 83.09 (horizontal swing low support, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 83.98 (horizontal swing high resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement).
Stochastic (34,5,3) is also seeing a bearish divergence and is approaching support where a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
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Stochastic (34,5,3) is also seeing a bearish divergence and is approaching support where a bounce off this level might see a corresponding rise in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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