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CADJPY analysis 19.02.2020

19.02.2020

Market Review

The resistance level of 83.10 continues to hold back buyers. At the moment, the ascending pattern is truncated. Awesome Oscillator indicator shows a bearish divergence, while Stochastic Oscillator signals overboughtness. A price pivot zone of 82.65 has formed, which now serves as a support level.

Trading recommendations:

Sell while a descending wave pattern is forming below the price pivot zone of 82.65.

Stop loss for the resistance level of 83.10.

Target levels: 82.25; 81.60.

Author: admin
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