Ichimoku Analysis (Daily chart)
Tenken-Sen- 80.43
Kijun-Sen- 79.30
CADJPY once again trading higher from minor bottom 79.89 due to weak yen. The optimism of the COVID -19 vaccine and easing the US and China trade war has decreased demand for safe-haven assets like yen. USDJPY continues to trade higher and broken primary resistance 106.30. A jump till 107.05 possible.
WTI Crude oil is trading flat for the past two weeks. Any violation above $43.50 confirms further bullishness. It is currently trading around $42.53.
On the lower side, the pair is facing support at 79.78 and any violation below will take to the next level till 79/78.
The near-term resistance is around 81, violation above targets 81.90 likely. Significant buying can be seen only above 82.
It is good to buy on dips around 80.35-40 with SL around 79.78 for the TP of 81.90.
