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Add as a preferred source on Google FxWirePro: CAD/JPY faces strong support at 78.60, good to sell on rallies Major support – 78.60 (trend line joining 77.56 and 77.96). Major resistance -79.66 (Oct 18th 2016 high). CAD/JPY breaks minor support 79 and declined till 78.61 yesterday. It is currently trading around 78.78. On the lo…
By FxWirePro Team Oct 20, 2016, 12:07 PM UTC
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Major support – 78.60 (trend line joining 77.56 and 77.96).
Major resistance -79.66 (Oct 18th 2016 high).
CAD/JPY breaks minor support 79 and declined till 78.61 yesterday. It is currently trading around 78.78.
On the lower side, any break below 78.60 confirms minor weakness, a decline till 77.55 is possible.
The immediate resistance is around 79.15 and break above will take the pair to next level till 79.66/80.31 in the short term.
It is good to sell on rallies around 79 with SL around 79.50 for the TP of 77.60
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