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Short

CAD/JPY forms Gravestone Doji , good to sell on rallies

FX:CADJPY   Canadian Dollar/Japanese Yen
127 0 5
Candlestick Pattern Formed- Gravestone Doji.

CAD/JPY             breaks major resistance at 100 –day MA 79.30 and jumped till 79.66 at the time of writing. It is currently trading around 79.57.

In the hourly chart, the pair has formed Gravestone doji and a slight dip till 79/78.58 (200- HMA) is possible.

The major intraday support stands at 79.30 (hourly Kijun-Sen) and any break below targets 79/78.63.

On the higher side, any break above high formed today at 79.66 will take the pair to next level at 80/80.31 in the short term.

It is good to sell on rallies around 79.60-79.65 with SL around 80 for the TP of 79/78.65

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