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FxWirePro: CAD/JPY struggles to break above 85.25, good to sell on rallies

  • Harmonic Pattern- Bearish Gartley Pattern

  • Potential Reversal Zone (PRZ) - 85.50

  • The pair has once again retreated after making a high of 85. is currently trading around 84.56.

  • Short term trend is slightly weak as long as resistance 85.50 holds.

  • On the lower side minor support is around 84.60 and break below will drag the pair till 83.80/83.

  • Short term bullish invalidation only below 82.80.

  • Any break above major resistance 85.50 will take the pair to next level 86.20/87.

It is good to sell on rallies around 84.80-84.85 with SL around 85.50 for TP of 83

 

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