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Short

CAD/JPY: Intraday trade Idea

FX:CADJPY   Canadian Dollar/Japanese Yen
88 0 5
Major resistance- 82.50

The pair has formed a temporary top around 82.51 and started to decline from that level. It is currently trading around 81.45.

Any bullishness can be seen only above 82.51.The break above 82.51 will take the pair to next level till 83/83.60 (161.8% retracement of 82.518 and 80.71).

On the lower side, major support is around 81.15 (trend line joining 80.71 and 80.92) and any violation below targets 80.71/80 in the short term.

It is good to sell on rallies around 81.45-81.50 with SL around 82.51 for the TP of 80.71/80
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