CAD/JPY Trade Idea

• Major resistance – 85.75
   
• Major support -84.60 (55 day 4H EMA)
   
• The pair has made a high of 85.56 in the morning and slightly declined from that level. It is currently trading around 85.46.
   
• Short term trend is bullish as long as support 84.60 holds. Any break below 84.60 will drag the pair down till 84/83.60/83 in short term. The minor support is around 85.
   
• Any violation above 85.75 will take the pair to next level around 86.35/87.45.

It is good to buy above 85.75 with SL around 85 for the TP of 86.35/87.45

R1-85.75

 R2-86.35

R3-87.45

Support

S1-84.60

S2-84

S3-83.60