CADJPY facing pressure from 1st resistance, further drop expected !
CADJPY reacting below descending trendline resistance and moving average. A further drop below 1st resistance at 79.554 towards 1st support at 79.221 can be expected..
Reason for Entry:
Take Profit : 79.221
Reason for Take Profit:
-61.8% fib retracement
Stop Loss: 79.725
Reason for Stop loss:
38.2% fib retracement, descending trendline resistance, moving average resistance
The material has been provided by InstaForex Company – www.instaforex.com