Main Quotes Calendar Forum
flag

FX.co ★ CADJPY below descending trendline resistance! Further drop incoming!

parent
Forex Analysis:::2021-03-04T09:10:21

CADJPY below descending trendline resistance! Further drop incoming!

CADJPY below descending trendline resistance! Further drop incoming!

Price holding below descending trendline resistance. A further drop below 1st resistance at 84.674 towards 1st support at 84.383 can be expected. Price also broke below longer term ascending trendline support (turned resistance).

Trading Recommendation

Entry: 84.674

Reason for Entry:

61.8% Fibonacci retracement, descending trendline resistance

Take Profit: 84.383

Reason for Take Profit:

-27.20% Fibonacci retracement

Stop Loss: 84.791

Reason for Stop Loss:

Graphical swing high

Analyst InstaForex
Share this article:
parent
loader...
all-was_read__icon
You have watched all the best publications
presently.
We are already looking for something interesting for you...
all-was_read__star
Recently published:
loader...
More recent publications...