Ichimoku Analysis (1 -hour chart)
Kijun-Sen- 82.04
Tenken-Sen- 82.10
CADJPY is trading higher and jumped nearly 50 pips from low of 81.87. The JPY was trading weak against all major after Bank of Japan monetary policy. BOJ has kept its interest rates unchanged at 10bpbs and sharp downward revision of inflation in 2019 from 1.4% to 0.9%.BOJ will continue to keep 10-year JGB yield at 0%. the pair hits high of 82.35 and is trading around 82.29.
On the higher side, near term resistance is around 82.40 and any break above 83/83.52/84.
The near term support is around 81.85 and any violation below will drag the pair to next level till 81.29/80.80.
It is good to buy on dips around 82.-82.25 with SL around 81.85 for TP of 83.50.
