CADJPY Long; 1hr

As shown, the current price action of this pair is testing a pivot point that has been prevalent throughout May and June. This coincides with the 38.2% Fibonacci extension level, derived from the swing high on the 22nd May. Due to this combination, if the support around the 81.00 holds, expect a short term reversal to around the 81.9 mark. Stop loss below 50% Fib. extension level.