- Major resistance – 87.20 (200- 4H MA and also 61.8% retracement of 88.66 and 84.80).
- Major support – 86.27 (200 – H MA)
- CAD/JPY breaks major trend line resistance at 86.60 and jumped sharply from that level. It is currently trading around 87.16.
- The jump from 74.80 and 88.92 will come to end if it closes below 85 level. The pair short term support is at 86.27 (200- H MA) and any break below will drag the CAD/JPY till 85.68 (61.8% retracement of 84.80 and 87.10).
- On the higher side, any break above 87.15-87.20 (200- 4H MA and also 61.8% retracement of 88.66 and 84.80) will take the pair till 88/88.90 in the short term.
It is good to buy on dips around 86.80-85 with SL around 86.25 for the TP of 88.90
Resistance
R1-87.20
R2-88
R3- 88.90
Support
S1-86.30
S2-85.80
S3- 85
