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- Minor resistance – 88.35 (trend lien joining 88.51 and 88.44).
- CAD/JPY formed a minor bottom at 87.50 and shown a minor jump on account of rising crude oil prices. Brent crude oil price s jumped above $65 high since 2015. The reason for rise was mainly due to North sea pipeline shutdown. The pair hits intraday high of 88.349 and is currently trading around 88.32.
- In the hourly chart, the pair shown a minor decline below 200- H EMA and recovered slightly. Any intraday weakness can be seen only if pair closes below 88.13 (220- H EMA) in the hourly chart.
- On the higher side, any break above 88.35 will take the pair to next level till 88.58 (61.8%)/88.72/89.22.
It is good to buy above 88.35 with SL around 88.10 for the TP of 88.72/89.20.
