FX.co ★ Daily Video Analysis: CADJPY approaching support, potential for a bounce!

Today we take a look at CADJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching our buy entry, which is in line with horizontal swing low support, where we could potentially see price bounce and rise further to reach take profit level, which is in line with 61.8% Fibonacci retracement and descending trendline resistance. Stochastics is also showing signs of bullish pressure, in line with our analysis.