CADJPY Approaching Its Support, Prepare For A Bounce
CADJPY is approaching its support at 83.468 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where we expect to see a bounce, pushing price all the way up to its resistance at 84.764 (38.2% Fibonacci retracement). We do have to be cautious of the intermediate resistance at 84.277 (100% Fibonacci extension, horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 4.9% where we expect to see a corresponding bounce.
Stochastic (34, 5, 3) is approaching its support at 4.9% where we expect to see a corresponding bounce.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.