CADJPY reacting below descending trendline resistance. With price breaking below moving average, a short term drop below our 1st resistance at 90.882 towards recent swing low and 1st support at 90.528 could be expected.
Trading Recommendation
Entry: 90.882
Reason for Entry:
78.6% Fibonacci retracement, Descending trendline resistance
Take Profit: 90.528
Reason for Take Profit:
50% Fibonacci retracement, graphical swing low support
Stop Loss: 91.068
Reason for Stop Loss:
Graphical swing high
