CADJPY holding below both descending trendline resistance and moving average. MACD below 0, within bearish environment as well. A further drop below 78.571 towards 1st support at 78.271 can be expected.
Trading Recommendation
Entry: 78.571
Reason for Entry:
Graphical overlap
Take Profit : 78.271
Reason for Take Profit:
-27.2% fib retracement
Stop Loss: 78.789
Reason for Stop loss:
38.2% fib retracement, Descending trendline resistance, moving average
