CAD/JPY is facing short term resistance around 101.80 and any trend reversal can happen only above that level.
On the upside minor resistance is around 101.50and any break above will target 101.80/102.30.
The pair’s minor support is around 100.50 and any indicative break below will take the pair to 99.85/99.60 (50% retracement of 106.28 and 92.88).
Indicator (1 Hour Chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell CAD/JPY around 100.85-90, SL 101.50, Target 99.70/99.12.
On the upside minor resistance is around 101.50and any break above will target 101.80/102.30.
The pair’s minor support is around 100.50 and any indicative break below will take the pair to 99.85/99.60 (50% retracement of 106.28 and 92.88).
Indicator (1 Hour Chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell
Recommendation: Sell CAD/JPY around 100.85-90, SL 101.50, Target 99.70/99.12.
