FxWirePro: CAD/JPY Faces Strong Resistance at 88.68, Good to Sell on Rallies

FxWirePro: CAD/JPY Faces Strong Resistance at 88.68, Good to Sell on Rallies

• Major resistance- 88.68 (200 day MA) 
• The pair has made a high of 88.36 yesterday and declined from that level. It is currently trading around 87.51. 
• Short term trend is slightly bearish as long as resistance 88.70 holds. 
• On the lower side support is at 86.70 (7 day EMA) and break below targets 86.25/85.48. 
• Further bullishness can be seen only above 88.68 and break above targets 90/91.78. 
• Stoch-RSI- Over bought zone
  

It is good to sell on rallies around 87.95-88 with SL around 88.68 for the TP of 86.70/86.25       

      

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