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Long

CAD/JPY faces strong resistance at 86.30, good to buy at dips

FX:CADJPY   Canadian Dollar / Japanese Yen
116 0 3
Major resistance – 86.30 ( trend line joining 86.21 and 86.27)

Major support - 84.50

The pair has once again retreated after making a high of 86.29 on 23rd Mar 2016. It has declined till 84.56 and slightly recovered from that level. It is currently trading around 85.75.

Short term trend is slightly weak as long as resistance 86.30 holds. Any break above 86.30 will take the pair to next level around 87.05/88 in short term.

The pair’s minor support is around 85.40 and break below targets 84.50/84.10.

It is good to buy at dips around 85.75-85.80 with SL around 85 for the TP of 87.05/88.
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