CADJPY holding below descending trendline resistance. A short term drop below our 1st resistance at 87.205 towards graphical swing low support and 1st support at 86.899 could be possible. Stochastics is reacting below resistance where price previously pulled lower as well.
Trading Recommendation
Entry: 87.205
Reason for Entry:
78.6% Fibonacci retracement, descending trendline resistance
Take Profit: 86.899
Reason for Take Profit:
-27.20% Fibonacci retracement, graphical swing low
Stop Loss: 87.413
Reason for Stop Loss:
Graphical swing high
