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CADJPY has shown a minor recovery after more than 150 pips decline from high of 84.35. It hits low of 82.55 and jumped till 83.36. Overall trend is weak as long as resistance 84.40 holds. The decline was due to broad based selling in Canadian dollar.
The near term support is around 82.55 and any violation below will take the pair to next level till 82/81.61 level.
On the higher side, near term resistance is around 83.45 and any break above targets 84/84.40.
It is good to sell on rallies around 83.35-40 with SL around 84 for the TP of 81.60.
