- Major resistance – 81.25 (200 4H MA)
- Major support – 79.45 (4H Tenkan-Sen)
- CAD/JPY broken major psychological resistance 80 yesterday and jumped till 80.82. The pair is struggling to at higher levels and started to decline from that level.
- It is currently trading around 79.90.
- The pair should break below 79.45 for further weakness. Any violation below 79.45 will drag the pair down till 78.80 (55 4H EMA) /78.40 (21 4H MA).
- On the higher side, any violation above 80 targets 80.82/81.25 in the short term.
It is good to buy at dips around 79.90 with SL around 79.45 for the TP of 80.80/81.25.
R1- 80.50
R2-80.85
R3-81.25
Support
S1-79.45
S2-78.80
S3-78.40
