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- CAD/JPY has shown a huge jump after making a low of 81.40 yesterday on account of news that US will stay with NAFTA for the moment.
- US President Donald Trump told leaders of Mexico and Canada that he will not pull out of North American Free trade agreement.
- The pair shown a mild jump above trend line resistance of 82.14 and is currently trading around 81.99. On the higher side, any close above 82.20 (200- day MA) will take the pair to next level till 82.89 (200- 4H MA)/83.40 (55- day EMA)/84.20.
- The near term support is around 81.40 and any break below will drag the pair down till 80.56/80.20 (61.8% retracement of 74.81 and 88.92).
It is good to buy above 82.20 with SL around 81.40 for the TP of 83.40/84.20.
Resistance
R1-82.20
R2 -83.40
R3- 84.20
Support
S1-81.40
S2-80.56
S3-80.20
