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Short

CAD/JPY :Sell on rallies

FX:CADJPY   Canadian Dollar/Japanese Yen
156 0 7
Major resistance -80 (trend line joining 80.77 and 80.42)

The pair has made a high of 79.92 at the time of writing and declined from that level. It is currently trading around 79.60.

On the lower side, minor support is around 79.50 and any violation below targets 78.65 (Jul 26th low)/78.

The resistance is around 80 and any break above will take the pair to next level till 80.77/81.25.

Short term trend reversal only above 82.60.

It is good to sell on rallies around 79.60-79.65 with SL around 80 for the TP of 78.70/78.

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