FX.co ★ CADJPY is approaching resistance, potential reversal!

Price is approaching our first resistance, in line with our trend line, horizontal pullback resistance, 76.4% fibonacci retracement and 127.2% fibonacci extension where we could see a reversal below this level.

Trading Recommendation

Entry: 80.956

Reason for Entry:

trend line, horizontal pullback resistance, 76.4% fibonacci retracement and 127.2% fibonacci extension

Take Profit: 79.963

Reason for Take Profit:

Horizontal swing low support, 61.8% fibonacci extension

Stop Loss: 81.436

Reason for Stop Loss:

Horizontal swing high resistance