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CADJPY approaching resistance, potential drop!

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Kanadensisk dollar/Japanska yen (FX:CADJPY)  
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FX:CADJPY   Kanadensisk dollar/Japanska yen
Trend Analysis Harmonic Patterns Chart Patterns CADJPY CAD jpy cadjpylong cadjpyshort Forex forextrading forexsignals
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trendanalysis harmonicpatterns chartpattern cadjpy cad jpy cadjpylong cadjpyshort forex forextrading forexsignals
CADJPY is approaching our first resistance at 85.92 (horizontal overlap resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement) where price might potentially drop to our major support at 85.18 (horizontal overlap support, 23.6% Fibonacci retracement).
RSI (89) is also seeing a bearish exit and we might see a corresponding drop in price if it reacts off this level.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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