The CADJPY prepares for new decline – Analysis – 24-11-2022

The CADJPY pair attacked 50% Fibonacci correction level this morning, affected by the negative pressures that are represented by the stability of the barrier at 105.60, besides the unionism of the main indicators by providing the negative momentum until this moment.

While confirming breaking 104.10 level will open the way for resuming the negative attack, to expect reaching 103.65 initially, then attempts to hit 61.8% Fibonacci correction level at 102.65.

The expected trading range for today is between 104.60 and 103.65

The expected trend for today: Bearish