CAD/JPY faces strong resistance at 85.50, break above targets 86.25/87.30

• Major resistance- 85.50 (100 day EMA)
   
• Major Support – 83.60
   
• CAD/JPY has recovered after making a low of 83.89 yesterday. The pair opened around 84.74 today morning and slightly jumped till 85.19. It is currently trading around 85.10.
   
• The major resistance for the day is at 85.50 (100 day EMA) and any break above 85.50 will take the pair till 86.287 (61.8% retracement of 88.79 and 82.24)/87.38.
   
• On the lower side major support is around 83.60 and any break below targets 82.90/82.25 level.

It is good to buy above around 85.50 with SL around 84.75 for the TP of 86.28/87.30