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CAD/JPY Trade idea

  • Major Support – 82
     
  • CAD/JPY has recovered after making a low of 82.67.It is currently trading at 83.01.
     
  • Short term trend is bullish as long as support 82 holds. On the downside any break below 82 will drag the pair down till 81.45/80.80 in the short term.
     
  • The pair’s resistance is around 83.60 and any violation above 83.60 targets 84.30/85 in the short term.
     
  • Overall trend reversal only above 85.50 level.

It is good to buy at dips around 82.65-82.70 with SL around 82 for the TP of 83.60/84.30

R1-83.60

 R2-84.30

R3-85

Support

S1-82

S2-81.45

S3-80.80

               

 

 

 

 

 

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