CADJPY short-term bearish momentum | 20th Oct 2021Price is abiding to an ascending trendline, signifying a bullish momentum, however, we are expecting price to do a short-term retracement. We can expect price to be reversing from pivot in line with daily resistance and drop towards the take profit level in line with 23.6% Fibonacci retracement. Our short-term bearish bias is further supported by the RSI indicator where a bearish divergence is spotted.
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