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07.10.2020 04:22 PM
CADJPY approaching ascending trendline support! Bounce incoming!

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CADJPY coming to test ascending trendline support and key 61.8% Fib retracement at 1st support, 79.119. A push up above this level towards 1st resistance at 79.538 is possible as well.

Trading Recommendation

Entry: 79.119

Reason for Entry:

Ascending trendline support, 61.8% Fib retracement

Take Profit : 79.538

Reason for Take Profit:

61.8% fib retracement

Stop Loss: 78.872

Reason for Stop loss:

-27.2% Fib retracement, recent swing low

Dean Leo,
Analytical expert of InstaForex
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