CAD/JPY Trade Idea

• Major resistance -80 (trend line joining 80.77 and 80.42).
   
• The pair has made a high of 79.92 at the time of writing and declined from that level. It is currently trading around 79.60.
   
• On the lower side, minor support is around 79.50 and any violation below targets 78.65 (Jul 26th low)/78.
   
• The resistance is around 80 and any break above will take the pair to next level till 80.77/81.25.
   
• Short term trend reversal only above 82.60.

It is good to sell on rallies around 79.60-79.65 with SL around 80 for the TP of 78.70/78.

R1- 80

 R2-80.78

 R3-81.25

Support

S1-79.50

S2-78.65

S3-78