CADJPY approaching support, potential bounce!

5 בספט׳ 2018

CADJPY is approaching our first support at 84.22 (horizontal swing low support, 50%, 78.6% Fibonacci retracement, 61.8% Fibonacci extension, short term ascending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 85.91 (horizontal pullback resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support and a bounce off this level might see a corresponding rise in price.
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