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