CAD/JPY breaks major resistance at 79.66, targets 80.31/81.28

FX:CADJPY   Canadian Dollar / Japanese Yen
135 0 7
Major support – 78.30 (55- day EMA )

Major resistance -79.66

CAD/JPY             recovered sharply from the low of 78.29 made on Nov 10th. It is currently trading around 79.71.

The major resistance is around 79.66 and any break above will take the pair to next level till 80.31/81.29 (200- day MA).

Any break below 78.80 (5- day MA) will drag the pair down till 78.30 (55- day EMA )/78 in the short term.

It is good to buy above 79.66 with SL around 78.80 for the TP of 80.31/81.29
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