CAD/JPY Faces Strong Resistance at 88.68, Break Above Targets 90
- Major resistance- 88.68 (200 day MA)
- The pair has made a high of 88.49 at the time of writing and declined from that level. It is currently trading around 88.34.
- Short term trend is slightly bearish as long as resistance 88.70 holds.
- On the lower side supports is at 87.25 and break below targets 86.70 (7 day EMA)/ 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 buy at dips around 88.20 with SL around 87.25 for the TP of 90.
The material has been provided by InstaForex Company - www.instaforex.com