FX.co ★ CAD/JPY Reversed Off Resistance, Prepare For Further Drop

CAD/JPY reversed off its resistance at 85.50 (100% Fibonacci extension, 50% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at 84.99 (61.8% Fibonacci retracement, horizontal swing low support).

Stochastic (55, 5, 3) reversed off its resistance at 97% where a corresponding drop is expected.

CAD/JPY reversed off its resistance where we expect to see a further drop.

Sell below 85.50. Stop loss at 85.83. Take profit at 84.99.