CAD/JPY breaks major support 80.95, targets 79.30
Major support – 80.95 (trend line joining 81.59 and 81.03)
Major resistance – 82.26 (55 day 4 H EMA)
The pair has broken major support around 80.95 and declined till 80.84 at the time of writing . Short term trend is weak as long as resistance 82.25 holds.
On the lower side any break below 80.95 will drag the pair till 80/79.30.
Any break above major resistance will take the pair till 82.78/83. The minor resistance is around 81.40.
It is good to sell on rallies around 81.35-81.40 with SL around 82.30 for the TP of 80/79.30
Major resistance – 82.26 (55 day 4 H EMA)
The pair has broken major support around 80.95 and declined till 80.84 at the time of writing . Short term trend is weak as long as resistance 82.25 holds.
On the lower side any break below 80.95 will drag the pair till 80/79.30.
Any break above major resistance will take the pair till 82.78/83. The minor resistance is around 81.40.
It is good to sell on rallies around 81.35-81.40 with SL around 82.30 for the TP of 80/79.30