FxWirePro : CAD/JPY Trade idea

• Major support -82 (200 –day MA).
   
• CADJPY declined after showing a minor jump till 83.37 on Apr 10th 2017. The pair is still weak as long as resistance 83.50 (trend line joining 87.72 and 85.89) holds.
   
• The near term support 82 (200- day MA) and any close below will confirm major trend reversal, a decline till 80.21 (61.8% retracement of 88.92 and 74.85) is possible.
   
• JPY gained against all major on account of Geopolitical tensions of Syria and North korea.USD/JPY broken major support at 110 and declined till 109.35. Short term trend is weak and a decline till 108 likely.
   
• On the higher side, any break above 83.50 will take the pair till 84.20 (Mar 31st 2017 high)/85.44 (50% retracement of 88.92 and 74.85).
  
  It is good to sell below 82 with SL around 83.05 for the TP of 80.25.

Resistance                                                                            

R1-83.50                 

R2 -84.20

R3- 85

Support                   

S1-82

S2-80.25

S3-78.80