Potential Reversal Zone (PRZ)- 84.10
As per our analysis CADJPY is showing weakness after jumping till 83.84 on Apr 3rd 2019. CAD was trading lower against all major after release of Canadian jobs data.Canadian economy has lost 7200 jobs in month of Mar compared to forecast of 3000 and 55900 in previous month. The unemployment rate came unchanged at 5.8% It is currently trading around 83.38.
On the lower side, near term support is around 83.10 and any violation below will drag the pair to next level till 82.81/82.20/81.98.
The major resistance is around 84.10 high made on Mar 19th and break above that level targets 84.40/84.60/85.Any bullish continuation only above 85.25.
It is good to sell on rallies around 83.55-60 with SL around 84.10 for the TP of 82.21.
