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CADJPY has halted its three weeks of the bearish trend and shown a minor pullback. The pair was one of the best performers in the past two months on the strong Canadian dollar. The upbeat market sentiment and policy divergence between US Fed and BOC also support the Canadian dollar. WTI crude surges on higher demand, any breach below $81.80 confirms intraday bearishness. CADJPY hits an intraday high of 91.13 and is currently trading around 91.04.
On the lower side, near-term support is around 90.40 and any violation below will drag the pair down till 89.80/88.90/88.
The immediate resistance is at 91.35, a breach above targets 92.05/93. Major trend continuation only above 93.05.
It is good to buy on dips around 90.75-80 with SL around 90.40 for TP of 93.
