Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

CAD/JPY Testing Resistance, Prepare For A Reversal!

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CAD/JPY is testing its resistance at 84.21 (61.8% & 38.2% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reversal, causing price to fall to its support at 83.08 (61.8% Fibonacci retracement, horizontal overlap support).

Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.

Sell below 84.21. Stop loss at 84.97. Take profit at 83.08.

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The material has been provided by InstaForex Company – www.instaforex.com

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