FxWirePro
Long

CAD/JPY Short Term Outlook

FX:CADJPY   Canadian Dollar/Japanese Yen
57 0 0
CAD/JPY             has taken support around 94.65 and slightly recovered from that level. Overall trend is bullish as long as support 94.65 (trend line joining 94.35 and 94.68) holds.

On the upside minor resistance is around 95.55 and any break above will take the pair to 96.40/97.

The minor support is around 94.65 and break of will drag the pair further down till 94/93.50.

Indicators (4hour chart)
CCI (50) – Buy
CCI (14) – Sell
Ichimoku- Neutral

Recommendation: Buy CAD/JPY             around 95.20, SL 94.60, Targets 96.40/97.
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