FxWirePro: CAD/JPY faces trend line resistance at 79.10, good to buy on dips

• Major resistance79 (trend line joining 82.52 and 80.31).
   
• Major support – 77.45 (21- day MA).
   
• CAD/JPY has taken support near 10- day MA and started to jump from that level. It is currently trading around 78.58.
   
• The pair is facing strong trend lien resistance around 79 and any close above that level confirms further bullishness.
   
• In daily chart, the pair is trading well above short term MA (21- day MA (77.35) and 50- day MA (77.86)) and also above Tenken –Sen (77.40) , Kijun-Sen (77.85).
   
• On the higher side, major resistance is around 79 (trend line joining 82.52 and 80.31) and any violation above targets 79.55 (100- day MA)/80.31/81.90 (200-day MA).
   
• The minor support is around 77.85 (Kijun-Sen) and any violation below will drag the pair down till 77.45/77.06 (10- day MA).

It is good to buy on dips around 78.30-35 with SL around 77.45 for the TP of 79.10/80.30.