CAD/JPY :Buy above 80

FX:CADJPY   Canadian Dollar / Japanese Yen
106 0 7
Major resistance – 81.25 (200 4H MA)

Major support – 79.45 (4H Tenkan-Sen)

CAD/JPY             broken major psychological resistance 80 yesterday and jumped till 80.82. The pair not able hold at higher levels and started to decline from that level.

It is currently trading around 79.90.

The pair should break below 79.45 for further weakness. Any violation below 79.45 will drag the pair down till 78.80 (55 4H EMA ) /78.40 (21 4H MA).

On the higher side, any violation above 80 targets 80.82/81.25 in the short term.

It is good to buy above 80 with SL around 79.45 for the TP of 80.80/81.25.
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