FX.co ★ Daily Video Analysis: CADJPY facing bearish pressure, potential for further drop!

Today we take a look at CADJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it holds below the descending trendline resistance, where we could potentially see a bearish drop from our sell entry level, in line with our 76.4% Fibonacci retracement level, towards our take profit level. Stochastics is also approaching the upper resistance level where it has reacted from before, in line with our analysis.