CAD/JPY faces resistance around 86.25, good to sell on rallies
Major resistance – 86.25 (trend line joining 85.76 and 86.13)
Major Support – 84.50
CAD/JPY has retreated after making a high of 86.25. It is currently trading around 85.68.
CAD/JPY faces strong resistance around 86.25 and break above confirms minor trend reversal, a jump till 87.05/88.04/89.13 in short term.
On the lower side minor support is around 85.50 and break below targets 84.50/84.10/83.60 in short term.
Short term trend reversal only below 82.50.
It is good to sell on rallies around 85.70-75 with SL around 86.25 for the TP of 84.50/83.60
Major Support – 84.50
CAD/JPY has retreated after making a high of 86.25. It is currently trading around 85.68.
CAD/JPY faces strong resistance around 86.25 and break above confirms minor trend reversal, a jump till 87.05/88.04/89.13 in short term.
On the lower side minor support is around 85.50 and break below targets 84.50/84.10/83.60 in short term.
Short term trend reversal only below 82.50.
It is good to sell on rallies around 85.70-75 with SL around 86.25 for the TP of 84.50/83.60
