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Ichimoku Analysis (4-hour chart)
Tenken-Sen- 80.84
Kijun-Sen- 80.625
CADJPY is trading weak for the fourth consecutive days and lost more than 100 pips. The strength in yen as uncertainty looms over US corona stimulus vote in the senate. USDCAD continues to trade bearish after hitting a minor top 1.29567 on broad-based US dollar buying. Short term trend of CADJPY is bearish as long as resistance 81.10 holds.
On the lower side, near term support is around 80.55 and any violation below will take the pair till 80.35/80/79.80.
The significant resistance is at 81.05, any indicative break above that level targets 81.30/81.75/82/82.68/83.Significant trend reversal only above 82.
It is good to sell on rallies around 81.10-15 with SL around 81.70 for the TP of 79.69.
