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CADJPY on major support, prepare for a bounce!

FX:CADJPY   加元 / 日圓

CADJPY             is now testing major support at 88.50 (61.8% Fibonacci retracement , 61.8% Fiboancci extension, horizontal overlap support) and a strong bounce could occur at this level to push price up towards 90.37 resistance (61.8% Fibonacci retracement ). We are seeing intermediate resistance at 89.65 (38.2% Fibonacci retracement ) too.

Stochastic (34,5,3) is also seeing major support at 2.2% where multiple bounces occurred previously. A potential corresponding bounce could occur at this level too.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Guys, get more real-time updates on our trading ideas here : https://t.me/tickmillroom

This analysis is provided as general market commentary and does not constitute investment advice.
wow... Thank you.
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