CADJPY is approaching our first resistance at 87.47 (horizontal swing high resistance, 23.6%
Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level
pushing price down to our major support at 86.54 (horizontal overlap support, 50% Fibonacci
retracement, 100% Fibonacci extension).
RSI (89) is seeing a bearish exit and we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Share this post: