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03.09.2020 01:17 PM
CADJPY is facing bearish pressure, potential for further drop!

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Price is testing a key support level and a break below our downside confirmation level could provide the bearish acceleration to our support target.

Trading Recommendation

Entry: 81.154

Reason for Entry:

horizontal swing low support, 61.8% Fibonacci extension

Take Profit: 80.755

Reason for Take Profit:

Horizontal pullback support, 61.8% fibonacci retracement, 61.8% Fibonacci extension

Stop Loss: 81.453

Reason for Stop Loss:

Horizontal swing high resistance, 127.2% fibonacci extension

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Summary
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Dean Leo
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