FxWirePro:CAD/JPY struggles to close above 88, good to sell on rallies
Major resistance -88 Major support – 87.40 (trend line joining 86.96 and 87.35). CAD/JPY declined from the temporary top made at 88.92 till 86.96 on 19th Dec 2016. The pair jumped till 88.27 from the bottom of 86.96. It …
Major support – 87.40 (trend line joining 86.96 and 87.35).
CAD/JPY declined from the temporary top made at 88.92 till 86.96 on 19th Dec 2016. The pair jumped till 88.27 from the bottom of 86.96. It is currently trading around 87.50.
On the higher side major intraday resistance stands at 88 and any break above will take the pair to next level till 88.92/90 in the short term.
The major support stands at 87.40 and any break below will drag the pair down till 86.95/86.59/86.29 (161.8% retracement of 86.96 and 88.27).
It is good to sell on rallies 87.50-55 with SL around 88 for the TP of 86.95/86.60
