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CADJPY pared most of its gains on the strong yen. It hit a low of 107.93 and is currently trading around 107.94.
Technicals-
The pair is trading above 34- and 55 EMA in the hourly chart.
The near-term resistance is around 108.30, a breach above targets 108.80/109.20/110.35. The immediate support is at 107.65, any violation below will drag the pair to 107.20/109.90.
Indicator ( hourly chart)
CCI (14)- Bearish
CCI (50)- Bearish
Average directional movement Index- neutral. All indicators confirm the mixed trend.
It is good to sell on rallies around 108.02-05 with SL around 108.35 for a TP of 107.20.
