FX.co ★ CADJPY facing bearish pressure

Price may retrace from 1st resistance at 88.718 at 61.8% Fibonacci extension to 1st support at 86.577 in line with 78.6% Fibonacci extension. Otherwise price may rise to 2nd resistance at 89.130 in line with 78.6% Fibonacci extension.

Trading Recommendation

Entry: 88.718

Reason for Entry:

61.8% Fibonacci extension

Take Profit: 86.577

Reason for Take Profit:

78.6% Fibonacci extension

Stop Loss: 89.130

Reason for Stop Loss:

78.6% Fibonacci extension