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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