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CADJPY is trading high for past 1-week and jumped more than 200 pips on account of strong Canadian dollar. Canadian dollar is trading strong against all major especially USD and declined more than 200 pips. The jump was due to strong Canadian jobs data.Canada has added 27700 jobs in May compared to forecast of 5000 and unemployment rate declined to 5.4% from 5.7%.The pair hits high 81.96 and is currently trading around 81.87.
The near term resistance is around 82.10 (55-day EMA) and any violation above will take the pair till 82.62/83/83.36.
On the lower side, near term support is around 81.33 (23.6% fib) and any convincing break below will take the pair to next level till 80.93/80.
It is good to buy above 82.10 with SL around 81.60 for the TP of 83.35.
