FX.co ★ CADJPY approaching ascending trendline support! Bounce incoming!

CADJPY coming to test ascending trendline support and key 61.8% Fib retracement at 1st support, 79.119. A push up above this level towards 1st resistance at 79.538 is possible as well.

Trading Recommendation

Entry: 79.119

Reason for Entry:

Ascending trendline support, 61.8% Fib retracement

Take Profit : 79.538

Reason for Take Profit:

61.8% fib retracement

Stop Loss: 78.872

Reason for Stop loss:

-27.2% Fib retracement, recent swing low