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FxWirePro: CADJPY downside capped by 200- day MA, jump till 81.90 possible

Ichimoku Analysis (Daily chart)

 

Tenken-Sen- 80.43

 

Kijun-Sen- 79.30

 

CADJPY once again trading higher from minor bottom 79.89 due to weak yen. The optimism of the COVID -19 vaccine and easing the US and China trade war has decreased demand for safe-haven assets like yen. USDJPY continues to trade higher and broken primary resistance 106.30. A jump till 107.05 possible.

 

WTI Crude oil is trading flat for the past two weeks. Any violation above $43.50 confirms further bullishness. It is currently trading around $42.53.

 

On the lower side, the pair is facing support at 79.78 and any violation below will take to the next level till 79/78.

 

The near-term resistance is around 81, violation above targets 81.90 likely. Significant buying can be seen only above 82.

 

It is good to buy on dips around 80.35-40 with SL around 79.78 for the TP of 81.90.

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