CADJPY approaching support, potential bounce!

6 ביולי 2018

CADJPY is broke out of our short term pullback support line and is approaching our first support at 83.85 (horizontal swing low support, 23.6% Fibonacci retracement) and a strong bounce might occur above this level pushing price up to our major resistance at 84.93 (78.6% Fibonacci retracement, 100% Fibonacci extension).
Stochastic (34,5,3) is also approaching our support and we a bounce off this level might see a corresponding rise in price.
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