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Ichimoku analysis (Daily chart)
Tenken-Sen- 85.58
Kijun-Sen- 85.79
CAD/JPY trades lower and lost more than 100 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 84.91 and is currently trading around 85.025.
On the lower side, near by support is around 84.85-90 (200- day MA and trend line support) and break below will drag the pair down till 83.76.
The near term resistance is around 85.51 (10- day MA) and any violation above targets 85.80/86.24/87.
It is good to sell on rallies around 85.25-30 with SL around 85.70 for the TP of 83.76.
