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- CAD/JPY is continuing its second day of bullishness and jumped almost 160 pips form yesterday’s low of 84.15. The pair is trading near high of 85.76 made on Apr 13th 2018 and is currently trading around 80. The yen was trading weak against all majors on easing geo political tensions. USDJPY recovered almost more than 140 pips from low of 108.64 made yesterday.
- The pair’s major near term resistance is around 85.75 (Apr 13th 2018 high) and any break above will take the pair 87.15/87.80.
- The major support is at 85.40 and any break below will drag the 85/84.40/83.89.
It is good to buy on dips around 85.70-75 with SL around 85.40 for the TP of 86.45/87.15.
Resistance
R1- 86
R2 –87.15
R3- 87.80
Support
S1- 85.40
S2-85
S3- 84.40
