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13.07.2021 10:34 AM
CADJPY holding above ascending trendline support! Push higher incoming!

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CADJPY holding above ascending trendline support, showing that the trend has changed. With technical indicators now showing room for further bullish momentum, a further push up above our 1st support at 88.469 towards our 1st resistance at 89.130 could be possible.

Trading Recommendation

Entry: 88.469

Reason for Entry:

38.2% Fibonacci retracement, ascending trendline support

Take Profit: 89.130

Reason for Take Profit:

-61.8% Fibonacci retracement, Graphical swing high resistance

Stop Loss: 87.989

Reason for Stop Loss:

Graphical swing low support

Dean Leo,
Analytical expert of InstaForex
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