Consolidating Thursday presents us with USD/CAD & CAD/JPY

Hey traders,

let’s hit the charts.

 

 

1. USD/CAD

Price found it difficult breaking the 61.8% Fibonacci retracement level yesterday on the USD/CAD.

Today we may most likely see a pull-back, which may take price back to resistance level 1.27711

 

 

2. CAD/JPY

For over a month now, price on the CAD/JPY has maintained a descending channel.

A bearish engulfing candlestick formed yesterday further authenticated price next move. Support level 88.870 may be price next bus stop 

What say you?

 

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