CAD/JPY Trades Well Above 200 HMA, Targets 86 - Good to Buy Dips
- Major resistance – 84.25 (200 day HMA)
- Major intraday resistance – 83.80
- CAD/JPY breaks major intraday resistance and jumped till 84.37 at the time of writing. It is currently trading around 84.32.
- The pair has closed well above 200 day HMA and this confirms minor bullishness, jump till 85/85.25/86 is possible.
- On the lower side support is around 83.65 (Kijun-Sen) and break below targets 83.05/82.25.
- Short term trend reversal only below 82.25 (May 6th low).
It is good to buy at dips around 84.10 with SL around 83 for the TP of 85.25/86.