CAD/JPY breaks trend line support at 86.85, declined till 85.95/84 likely
Major support - 86.83 (trend line joining 84.57 and 85.96). Major resistance – 87.65 (200- H MA). The pair has broken major trend line support at 86.83 and declined till 86.56. It is currently trading around 86.65. Any b…
Major support - 86.83 (trend line joining 84.57 and 85.96).
Major resistance – 87.65 (200- H MA).
The pair has broken major trend line support at 86.83 and declined till 86.56. It is currently trading around 86.65.
Any break below trend line support confirms minor weakness, decline till 85.95/84 is possible.
On the higher side, 200 HMA will be acting as major intraday resistance and any break above will take the pair to next immediate resistance at 88.20/88.65.
Short term trend reversal only above 88.65.
It is good to sell on rallies around 86.70-86.80 with SL around 87.60 for the TP of 85.95/84.
