FxWirePro: CAD/JPY faces strong resistance at 21- day MA, good to sell on rallies

• Major resistance -79.05 (21 day MA).
   
• The pair has retreated sharply after making a high of 78.42. It is currently trading around 77.61.
   
• Short term trend is slightly bearish as long resistance 79.05 (daily Tenken-Sen) holds.
   
• On the lower side, major support is around 77.77 and any violation below targets 77.35 (61.8% retracement of 78.12 and 76.76) /76.98/76.15.
   
• The resistance is around 79.05 and any break above will take the pair to next level till 80/8.80.     
   
• Short term trend reversal only above 82.60.

It is good to sell on rallies around 78 with SL around 79.05 for the TP of 77/76.15.