CAD/JPY Trade Idea

• Major support: 84.65 (200 day MA)
   
• Major resistance -85.75 (Tenken-Sen)
   
• The pair has taken support near 200 day MA and slightly recovered from that level. Short term trend is bearish as long as resistance 85.75 holds.
   
• On the higher side minor resistance is around 85.30. Any break below major support 84.65 will drag the pair down till 84/83.75 level.
   
• Stoch RSI -Oversold

It is good to sell on rallies around 85.30 with SL 85.75 for the TP of 84.65/84

R1-85.30

 R2-85.75

R3-86.05

Support

S1-84.65

S2-84

S3-83.75