FxWirePro: CAD/JPY faces strong resistance at 88.68, good to sell on rallies

• Major resistance- 88.68 (200 day MA)
   
• The pair has made a high of 88.36 yesterday and declined from that level. It is currently trading around 87.51.
   
• Short term trend is slightly bearish as long as resistance 88.70 holds.
   
• On the lower side support is at 86.70 (7 day EMA) and break below targets 86.25/85.48.
   
• Further bullishness can be seen only above 88.68 and break above targets 90/91.78.
   
• StochRsi- Over bought zone

It is good to sell on rallies around 87.95-88 with SL around 88.68 for the TP of 86.70/86.25