CAD/JPY Breaks Major Support 84, Decline Till 82 Is Possible

CAD/JPY Breaks Major Support 84, Decline Till 82 Is Possible

5 April 2016, 14:49
Roberto Jacobs
0
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CAD/JPY Breaks Major Support 84, Decline Till 82 Is Possible

  • Major resistance – 85.20 (7 W EMA) 
  • Major support - 84 
  • The pair has broken major support 84 and declined till 83.85 .It is currently trading around 84.01. 
  • Short term trend is bearish as long as resistance 85.20 holds. The break of 85.20 will take the pair to next level 86/86.50. The minor resistance is around 84.65. 
  • The pair’s major support is around 84 and break below targets 82.75/82.

It is good to sell on rallies around 84-84.10 with SL around 85.20 for the TP of 82.75/82

The material has been provided by InstaForex Company - www.instaforex.com

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