FxWirePro: CAD/JPY struggles to close above 200 HMA, good to sell on rallies

• Major resistance -80.15 (200 HMA)
   
• The pair has made a high of 80.28 yesterday and declined from that level. It is currently trading around 78.59.
   
• On the lower side, minor support is around 78 and any violation below targets 77.25 (161.8% retracement of 78.65 and 80.77)/76.81.
   
• The resistance is around 79.20 (hourly Kijun-Sen ) and any break above will take the pair to next level till 80/80.28/80.77.
   
• Short term trend reversal only above 82.60.

It is good to sell on rallies around 79.60-79.65 with SL around 80.25 for the TP of 78.70/78.