CADJPY facing bearish pressure | 13 Apr 2021

CADJPY facing bearish pressure | 13 Apr 2021 for FX:CADJPY by FXCM

CADJPY facing bearish pressure | 13 Apr 2021



CADJPY is facing bearish pressure from a tentative descending trendline resistance as well as horizontal swing high resistance. Prices might push down towards horizontal swing low support, in line with 61.8% Fibonacci extension and 78.6% Fibonacci retracement . If prices break past the swing high, prices might face resistance from 61.8% Fibonacci retracement and 50% Fibonacci extension . EMA is also above prices, showing a bearish pressure for prices.

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