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Short

CAD/JPY Short Term Outlook

FX:CADJPY   Canadian Dollar/Japanese Yen
98 0 0
CAD/JPY             has made a low of 94.16 and recovered till 95.09. Overall trend is bearish as long as resistance 95.60 holds.

On the upside minor resistance is around 95.60 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 (1 hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation: Sell CAD/JPY             around 94.80-85, SL 95.60, Targets 94/93.51.
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