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- Major resistance – 85 (200 day 4H MA)
- Major intraday support – 83.60
- CAD/JPY has retreated after making a high of 85.02 yesterday. It is currently trading around 83.86.
- The pair has broken major short term support 84 and declined till 83.79 at the time of writing .
- Any break above 85 will take the pair to next level till 85.50/86.31 (61.8% retracement 88.78 and 82.24 /86.60.The minor resistance is around 84.40/84.70.
- Short term trend reversal only below 82.25 (May 6th low).
It is good to sell on rallies around 84.35-84.40 with SL around 85.05 for the TP of 83.60/83
