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CAD/JPY breaks major trend line support at 82.25, decline till 80.85 is possible

Major support -82.25 (trend line joining 79.27 and 79.79) The pair has broken major support 82.25 and declined till 81. term trend is slightly weak as long as resistance 82.70 holds. Any break above 82.70 will take the p…

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CAD/JPY breaks major trend line support at 82.25, decline till 80.85 is possible
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  • Major support -82.25 (trend line joining 79.27 and 79.79)
     
  • The pair has broken major support 82.25 and declined till 81. term trend is slightly weak as long as resistance 82.70 holds.
     
  • Any break above 82.70 will take the pair to next level 83.25/83.50. Overall trend reversal only above 83.50.
     
  • On the lower side any break below 82.25 will drag the pair down till 81.35/80.85.

It is good to sell on rallies around 82.10-82.20 with SL around 82.75 for the TP of 81.35/80.85.

 

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