CAD/JPY has halted its bearish trend after forming a minor bottom around 83.89 level. The pair jumped more than 70 pips and is currently trading around 84.60. The yen was trading weak against all majors on easing geo pol…
CAD/JPY has halted its bearish trend after forming a minor bottom around 83.89 level. The pair jumped more than 70 pips and is currently trading around 84.60. The yen was trading weak against all majors on easing geo political tensions. USDJPY recovered almost more than 100 pips from low of 108.64 made yesterday. The pair hits intraday low of 84.15 and is currently trading around 84.60.
The pair’s major near term resistance is around 84.65 (trend line resistance) and any break above will take the pair 85/85.40/85.78.
The major support is at 84.40 and any break below will drag the 83.84/83.45 (50- day MA)/83.
It is good to buy above 84.65 with SL around 84.40 for the TP of 85.40/85.75.
