FXWIREPRO: CAD/JPY Faces Strong Resistance at 86.30, Good to Buy at Dips
28 March 2016, 10:47
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FXWIREPRO: CAD/JPY Faces Strong Resistance at 86.30, Good to Buy at Dips
- Major resistance – 86.30 (trend line joining 86.21 and 86.27)
- Major support - 84.50
- The pair has once again retreated after making a high of 86.29 on 23rd Mar 2016. It has declined till 84.56 and slightly recovered from that level. It is currently trading around 85.75.
- Short term trend is slightly weak as long as resistance 86.30 holds. Any break above 86.30 will take the pair to next level around 87.05/88 in short term.
- The pair’s minor support is around 85.40 and break below targets 84.50/84.10.
It is good to buy at dips around 85.75-85.80 with SL around 85 for the TP of 87.05/88.
The material has been provided by InstaForex Company - www.instaforex.com
