Technicals

Add as a preferred source on Google

FxWirePro: CAD/JPY struggles to close above 78, good to sell on rallies

Major resistance – 78.20 (90 4H EMA) Major support – 76 (Jun 24th 2016 low) The pair has retreated from the high of 78.45 and declined till 77.07 at the time of writing. It is currently trading around 77.13. The decline …

1 min read
FxWirePro: CAD/JPY struggles to close above 78, good to sell on rallies
Image from the original EconoTimes article

Read the original article

  • Major resistance – 78.20 (90 4H EMA)
     
  • Major support – 76 (Jun 24th 2016 low)
     
  • The pair has retreated from the high of 78.45 and declined till 77.07 at the time of writing. It is currently trading around 77.13.
     
  • The decline from 83.81 to 76.12 will come to an end only if closes above 80 level.
     
  • The pair should close above 80 for further bullishness. The pair’s major resistance is around 78.20 and any indicative break above targets 78.72.
     
  • On the lower side, any break below 77.10 will drag the pair down till 76.10/75.86.

It is good to sell on rallies around 78.35-78.40 with SL around 79 for the TP of 77.10/75.90.            

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560