Ichimoku Analysis (Hourly chart)
Tenken-Sen- 76.34
Kijun-Sen- 76.05
CADJPY recovers sharply on slightly better than expected Canadian jobs data. The Canadian economy lost 1993.8K jobs in Apr vs forecast of -4000K and unemployment rate at 13 % compared to 18%. The slight weakness in the Japanese yen also supporting the pair. It hits a high of 76.53 and is currently trading around 76.47.
The near term resistance is at 76.56, any violation above targets 77/77.25. On the flip side, immediate support is around 76.06 (200- HMA) and an indicative break below will drag the pair down till 75.74/75.39.
It is good to buy on dips around 76.35-40 with SL around 7606 for the TP of 77.25
