FX.co - CADJPY is facing bearish pressure, potential for further drop!

2020-09-03T11:17:23

Relevance until2020-09-04

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

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Dean Leo

FX.co ★ CADJPY is facing bearish pressure, potential for further drop!