BEARISH Rejection From CADJPY...What to expect?

2020年11月26日

From our previous analysis, we expected a 80.40 BEARISH movement before potentially seeing 61.8 fib level BEARISH movement. After this analysis, we managed to see CADJPY retesting 80.40 resistance level and what we managed to see is a clean rejection to the downside. I will be expecting price level of CADJPY to move to the 50.0 fib level minimally and potential reject to the upside can signal a possible breakout of the resistance level for CADJPY. However, as of now, I am leaning towards a continuous BEARISH movement to 77.93 support level. As of now, a short opportunity is viable till 50.0 fib level. If you plan to hold till 77.93 do watch out for potential rejection which may signal for immediate exit of the trade.

Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!