CAD/JPY takes support near trend line,jump till 86.2 is possible
Major support -84.16 (trend line joining 82.77 and 83.67)
Major resistance – 85
The pair has taken support around trend line and recovered from that level. It is trading around 84.86.
Short term trend is bullish as long as support 84.10 holds.
Any break below 84.10 will drag the pair down till 83.65/82.85.
On the higher side any break above 85 will take the pair to next level till 85.50/86.25 in short term.
Overall bearish invalidation only above 86.25 level.
It is good to buy at dips around 84.75-84.80 with SL around 84.10 for the TP of 85.50/86.25
Major resistance – 85
The pair has taken support around trend line and recovered from that level. It is trading around 84.86.
Short term trend is bullish as long as support 84.10 holds.
Any break below 84.10 will drag the pair down till 83.65/82.85.
On the higher side any break above 85 will take the pair to next level till 85.50/86.25 in short term.
Overall bearish invalidation only above 86.25 level.
It is good to buy at dips around 84.75-84.80 with SL around 84.10 for the TP of 85.50/86.25
