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CAD/JPY Holds Positive Bias Despite Canada’s Sharp GDP Contraction: Buy Dips Toward 116 Target 
- EUR/USD has shown a huge recovery after breaking psychological resistance 1.2000 yesterday. The pair jumped till 1.20595 after ECB meeting. In the Asian session Euro continued its winning streak and jumped till 1.20922. It is currently trading around 1.20660.
- The ECB President Draghi mentioned that growth in the Eurozone is solid and indicated the scaling back its quantitative easing programme would be informed next month.
- On the lower side, near term intraday support is around 1.1980 (4H Kijun-Sen) and any break below will drag the pair down till 1.19580/1.19298 (yesterday low)/1.18680.
- The near term resistance is at 1.2100 and any break above will take the pair till 1.2200.
It is good to buy on dips around 1.2000 with SL around 1.19580 for the TP of 1.2095/1.2200.
