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CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115? 
- Major support – 1.10770 (200 day MA).
- The pair has broken major support 1.10770 on Friday after better than expected US Nonfarm payroll.
- U.S economy has added 255k jobs in July vs. expected 180K and headline unemployment rate steady at 4.9%.
- The pair declined till 1.0457 and jumped till 1.11052. It has closed slightly above 200 day MA at 1.10831 on Friday.
- On the lower side, any close below 1.10770 confirms minor trend reversal, a decline till 1.1000/1.0950 likely.
- Technically the pair should break above 1.1156 (90 day EMA) for minor bullishness and break above targets 1.1200/1.1.230.
It is good to sell on rallies around 1.1100 with SL around 1.1160 for TP of 1.100/1.0955.
