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- Candlestick pattern: Shooting star (4 Hours Chart)
- Major resistance -82.05 (55 4H EMA)
- CAD/JPY has jumped till 82.05 and started to decline from that level. It is currently trading around 81.64.
- The decline from 85.50 till 79.30 will be completed once the pair breaks above 82.05 and closes well above that level. Any indicative break above 82.05 will take the pair to next level till 82.45/83.50 (200 4H MA).
- On the lower side major intraday support is around 81.45 (4 hour Tenkan-Sen) and any break below targets 80.70/80.29 (61.8 % retracement of 79.31 and 82.05)
- Overall bearish invalidation only above 85.50.
It is good to buy above 82.05 with SL around 81.45 for the TP of 83.45/84.50
