CAD/JPY Trade idea

• Major resistance – 87.20 (200- 4H MA and also 61.8% retracement of 88.66 and 84.80).
   
• Major support – 86.27 (200 – H MA)
   
• CAD/JPY breaks major trend line resistance at 86.60 and jumped sharply from that level. It is currently trading around 87.16.
   
• The jump from 74.80 and 88.92 will come to end if it closes below 85 level. The pair short term support is at 86.27 (200- H MA) and any break below will drag the CAD/JPY till 85.68 (61.8% retracement of 84.80 and 87.10).
   
• On the higher side, any break above 87.15-87.20 (200- 4H MA and also 61.8% retracement of 88.66 and 84.80) will take the pair till 88/88.90 in the short term. 
  
  It is good to buy on dips around 86.80-85 with SL around 86.25 for the TP of 88.90

Resistance                                                                               

R1-87.20

R2-88

R3- 88.90

Support      

S1-86.30

S2-85.80

S3- 85