CAD/JPY Testing Support, Prepare For Bounce

CAD/JPY is approaching its support at 84.34 (61.8% Fibonacci extension, 50%, 76.4% Fibonacci retracement, horizontal overlap support) where the price is expected to bounce up to its resistance at 85.34 (50% Fibonacci retracement, horizontal overlap resistance).

Stochastic (55, 5, 3) is testing its support at 3.6% where a corresponding bounce is expected.

CAD/JPY is testing its support where we expect to see a bounce.

Buy above 84.34. Stop loss at 83.77. Take profit at 85.34.


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