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- Major support – 78.60 (trend line joining 77.56 and 77.96).
- Major resistance -79.66 (Oct 18th 2016 high).
- CAD/JPY breaks minor support 79 and declined till 78.61 yesterday. It is currently trading around 78.78.
- On the lower side, any break below 78.60 confirms minor weakness, a decline till 77.55 is possible.
- The immediate resistance is around 79.15 and break above will take the pair to next level till 79.66/80.31 in the short term.
It is good to sell on rallies around 79 with SL around 79.50 for the TP of 77.60
Resistance
R1-79.66
R2-80.31
R3-81.73
Support
S1-78.60
S2-77.55
S3- 76.36
