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CADJPY continues to trade higher on the strong Canadian dollar. Canada's retail sales slumped to 0% on weak car sales compared to an estimate of 1.5% The bullish trend in the Crude oil prices also supports the Canadian dollar at a lower price. It hits an intraday high of 100.20 yesterday and is currently trading around 100.08.
On the lower side, near-term support is around 99.50 and any violation below will drag the pair down to 98.50/98.
The immediate resistance is at 101.20, a breach above targets 102/103.Major trend continuation only above 103.
It is good to buy on dips around 99.80 with SL around 99 for TP of 103.
