Daily Video Analysis: CADJPY facing bearish pressure, potential for further drop!

Today we take a look at CADJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances. We could potentially see a reversal at sell entry level, in line with 50% Fibonacci retracement and descending trendline resistance, and further drop towards take profit level, in line with horizontal swing low support.

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