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CAD/JPY approaching resistance, potential reversal

analytics5ecc8a1ccebfd.jpg

Trading Recommendation

Entry: 77.528

Reason for Entry: horizontal swing high resistance and 78.6% fibonacci retracement

Take Profit: 76.499

Reason for Take Profit: horizontal pullback support, 61.8% fibonacci retracement

Stop Loss: 77.814

Reason for Stop loss: Horizontal swing high resistance, 61.8% fibonacci extension

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