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- CAD/JPY is consolidating in narrow range between 86.06 and 85.40 for past three days. The pair jumped almost more than 200 pips in previous week form low of 83.89. The yen was trading slightly weak in Asian session on easing trade tension between US- China. USDJPY jumped almost 30 pips from intraday low of 109.20.
- The pair’s major near term resistance is around 86.05 and any break above will take the pair 87.15/87.80.
- The major support is at 85.40 and any break below will drag the 85/84.40/83.89.
It is good to buy on dips around 85.55-60 with SL around 85.34 for the TP of 86.45/87.15.
