CAD/JPY Faces Strong Resistance at 88.68, Break Above Targets 90

CAD/JPY Faces Strong Resistance at 88.68, Break Above Targets 90

27 April 2016, 15:27
Roberto Jacobs
0
25

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



Share it with friends: