FX.co ★ CAD/JPY approaching major support, prepare to buy

The price is approaching major pullback support at 88.49 (Fibonacci retracement, horizontal pullback support) and we are expecting the price to test this level before bouncing off nicely to continue its bullish channel exit potential to 89.20 (Fibonacci retracement, Fibonacci extension, horizontal swing high resistance).

RSI 934) is seeing a pullback to support level signaling that we could be seeing a bounce soon.

Buy above 88.49. Stop loss at 88.19. Take profit at 89.20.