FxWirePro:CAD/JPY forms Shooting star in daily chart , good to sell on rallies
Candlestick Pattern –Shooting Star Major resistance – 88.60 Pattern formed –Bearish Divergence (CCI (50). CAD/JPY made a top around 88.47 yesterday and slightly declined from that level. It is currently trading around 87…
CAD/JPY made a top around 88.47 yesterday and slightly declined from that level. It is currently trading around 87.94.
The pair has shown a continuous upside for past ten trading session on account of Higher crude oil prices.
On the lower side, minor support stands at 87.10 (23.6% retracement of 82.71 and 88.47) and any violation below will drag the 86.60 (5- day MA)/85.87 (10- day MA).Minor weakness can be seen only below 84 level.
It is good to sell on rallies around 88.10 with SL around 88.60 for the TP of 86.60/85.90
