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Candle Stick pattern -Shooting star
CADJPY has halted its 3- week of winning streak and showing a minor weakness. The pair jumped more than 250 pips on account of a strong Canadian dollar. Markets eye BOC policy meeting for further direction, any dovish tone by Bank of Canada will push the Canadian dollar higher.
WTI crude oil prices are trading slightly on the downside for the week and lost more than $2. It has jumped more than $6 on easing the US-China trade war which will increase demand for oil.
Technically, near-term support is around 83 and any indicative break below will drag the pair down till 82.35/82.
On the higher side, major resistance is around 83.55 and any break above will take the pair to the next level till 84/84.35.
It is good to sell on rallies around 83.25-30 with SL around 83.60 for the TP of 82.
