CAD/JPY Faces Strong Resistance at 85.75, Break Above Targets 86.35/87.45
- 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