CADJPY approaching support, potential bounce!

٢١ نوفمبر ٢٠١٨

CADJPY is approaching our first support at 84.85 (100% Fibonacci extension, 50%, 78.6%, 61.8% Fibonacci retracement, Horizontal swing low support, Long term ascending support line) where a strong bounce might occur above this level pushing price up to our major resistance at 86.03 (61.8% Fibonacci extension, 61.8% Fibonacci retracement).
Stochastic (34,5,3) is approaching support and we might see a corresponding rise in price should it bounce off this level.
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