Ichimoku Analysis (Daily chart)
Tenken-Sen- 79.58
Kijun-Sen- 79.89
CADJPY is trading slightly lower after three days of the bullish trend. The Canadian dollar jumped sharply against all majors on upbeat Canadian jobs data. The Canadian dollar gained sharply against all majors after upbeat jobs data. The Canadian economy has added more than 378000 jobs in September compared to an estimated 150000 and the unemployment rate at 9% vs estimate of 9.8%. It
WTI crude oil struggles to close above 200- day EMA and lost more than $1.5. Any violation below $39.80 confirms intraday weakness.
On the lower side, the pair is facing support at 79.60 and any break below will take to the next level till 79.20/78.75
The near-term resistance is around 80.60, violation above targets 81/81.90 likely. Significant buying can be seen only above 82.
It is good to buy on dips around 79.80-85 with SL around 79 for the TP of 81.90.
