FxWirePro: CAD/JPY faces strong trend line resistance at 84.30, good to sell on rallies

• Major resistance – 84.30 (trend line joining 85.51 and 84.57)
   
• Major support – 83.60 (90 H EMA)
   
• CAD/JPY has once again retreated after making a high of 84.30.It is currently trading around 83.82.
   
• On the higher side any break above trend line resistance 84.30 will take the pair to immediate resistance at 84.60 (200 4H MA)/85/85.50.
   
• The pair should close above 85.50 for short term trend reversal.
   
• CAD/JPY is facing major short term support at 83.60 and on breaking below 83.60 will drag the pair till 83/82.10.

It is good to sell on rallies around 84.25 with SL around 84.85 for the TP of 83.40/82.90.