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Ichimoku Analysis (4-Hour)'
Tenken-Sen- 83.34
Kijun-Sen- 83.34
CADJPY recovered more than 100 pips from a low of 82.80 on weak Yen. The yen was trading weak especially against USD on easing tensions between the US and Iran. USDJPY hits intraday high of 109.489, any breach above 109.75 confirms major bullishness.
Technically, CADJPY is facing stiff resistance around 83.916 high made on Dec 31st. Any indicative break past that level will take to the next level till 84.35/85.
On the flip side, near term support is at 83.29 and the break beneath will drag further down to 82.95/82.80.
It is good to buy on dips around 83.45-50 with SL around 82.95 for the TP of 84.35/85.
