CAD/JPY faces resistance at 85.75,break above targets 86.35/87.4
Major resistance – 85.75
Major support -84.60 (55 day 4H EMA)
The pair has made a high of 85.56 in the morning and slightly declined from that level. It is currently trading around 85.46.
Short term trend is bullish as long as support 84.60 holds. Any break below 84.60 will drag the pair down till 84/83.60/83 in short term. The minor support is around 85.
Any violation above 85.75 will take the pair to next level around 86.35/87.45.
It is good to buy above 85.75 with SL around 85 for the TP of 86.35/87.45
Major support -84.60 (55 day 4H EMA)
The pair has made a high of 85.56 in the morning and slightly declined from that level. It is currently trading around 85.46.
Short term trend is bullish as long as support 84.60 holds. Any break below 84.60 will drag the pair down till 84/83.60/83 in short term. The minor support is around 85.
Any violation above 85.75 will take the pair to next level around 86.35/87.45.
It is good to buy above 85.75 with SL around 85 for the TP of 86.35/87.45
