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Short

CAD/JPY Short Term Outlook

FX:CADJPY   Canadian Dollar/Japanese Yen
94 0 1
CAD/JPY             has made a high of 96.25 and is retreating from that level .Intraday trend is weak as long as resistance 96 holds.

On the downside any break below 95.40 will take the pair to 94.80/94.25 in short term.

The pair’s minor resistance is around 96 and break above could pave way for next target around 96.40/97.

Indicators (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell CAD/JPY             around 95.50, SL 96, Targets 94.80/94.25.
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