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Candle Stick pattern -Shooting star
CADJPY has halted its 3- week of winning streak and showing a minor weakness. The pair jumped more than 250 pips on account of a strong Canadian dollar. Markets eye BOC policy meeting for further direction, any dovish tone by Bank of Canada will push the Canadian dollar higher.
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Technically, near-term support is around 83 and any indicative break below will drag the pair down till 82.35/82.
On the higher side, major resistance is around 83.55 and any break above will take the pair to the next level till 84/84.35.
It is good to sell on rallies around 83.25-30 with SL around 83.60 for the TP of 82.
