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Ichimoku analysis (2 hour chart)
Tenken-Sen- 85.90
Kijun-Sen- 85.70
CAD/JPY trades lower and lost more than 50 pips from the high 86.24 made yesterday. The Japanese yen was trading strong against after US and China trade truce has started to fade. It hits low of 85.56 and is currently trading around 85.59.
On the lower side, near by support is around 85.40 (cloud top) and break below will drag the pair down till 85.05.
The near term resistance is around 86 and any violation above targets 86.24/87.
It is good to sell on rallies around 85.75-80 with SL around 86.25 for the TP of 85.
