Major support -82 (200 –day MA)
CADJPY declined after showing a minor jump till 83.37 on Apr 10th 2017. The pair is still weak as long as resistance 83.50 (trend line joining 87.72 and 85.89) holds.
The near term support 82 (200- day MA) and any close below will confirm major trend reversal, a decline till 80.21 (61.8% retracement of 88.92 and 74.85) is possible.
JPY gained against all major on account of Geopolitical tensions of Syria and North korea. USD/JPY broken major support at 110 and declined till 109.35. Short term trend is weak and a decline till 108 likely.
On the higher side, any break above 83.50 will take the pair till 84.20 (Mar 31st 2017 high)/85.44 (50% retracement of 88.92 and 74.85).
It is good to sell below 82 with SL around 83.05 for the TP of 80.25.
CADJPY declined after showing a minor jump till 83.37 on Apr 10th 2017. The pair is still weak as long as resistance 83.50 (trend line joining 87.72 and 85.89) holds.
The near term support 82 (200- day MA) and any close below will confirm major trend reversal, a decline till 80.21 (61.8% retracement of 88.92 and 74.85) is possible.
JPY gained against all major on account of Geopolitical tensions of Syria and North korea. USD/JPY broken major support at 110 and declined till 109.35. Short term trend is weak and a decline till 108 likely.
On the higher side, any break above 83.50 will take the pair till 84.20 (Mar 31st 2017 high)/85.44 (50% retracement of 88.92 and 74.85).
It is good to sell below 82 with SL around 83.05 for the TP of 80.25.
