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CAD/JPY faces resistance at 84.25, break above targets 85/85.50

Wednesday, June 8, 2016 7:04 AM UTC

Major resistance – 84.25 (trend line joining 84.43 and 84.31)
Major support – 83.60 (90 H EMA)
CAD/JPY has jumped till 84.21 after making a low of 83.74 at the time of writing. It is currently trading around 84.09.
On the higher side any break above trendline resistance 84.25 will take the pair to immediate resistance at 84.60 (200 4H MA)/85/85.50.
The pair should close above 85.50 for the short-term trend reversal.
CAD/JPY is facing major short-term support at 83.60 and on breaking below 83.60 will drag the pair till 83/82.10.

It is good to buy above 84.25 with SL around 83.60 for the TP of 85/85.50.

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CAD/JPY faces resistance at 84.25, break above targets 85/85.50

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