CAD/JPY reversed off its resistance at 85.45 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it is expected to drop further to its support at (50% Fibonacci retracement).
Stochastic (55, 5, 3) reversed off its resistance at 98% where a corresponding drop is expected. A bearish divergence has also been identified that contributes to our bearish bias.
CAD/JPY reversed off its resistance where we expect to see a further drop.
Sell below 85.45. Stop loss at 85.97. Take profit at 84.70.
