CADJPY breaks major support at 78.60, targets 77.55.
Major support – 78.60 (trend line joining 77.55 and 77.96)
Major resistance- 79.66 (Oct 18th high)
The pair breaks below 78.60 and declined till 78.33 at the time of writing . it is currently trading around 78.36.
On the lower side , any break below 78.60 will drag the pair down till 77.90/77.55./76.36 in the short term.
The immediate resistance is around 79.10 (100- day MA) and break above will take the pair to next level till 79.66/80.31 in the short term.
It is good to sell on rallies around 78.50-78.60 with SL around 79.10 for the TP of 77.55/76.40
Major resistance- 79.66 (Oct 18th high)
The pair breaks below 78.60 and declined till 78.33 at the time of writing . it is currently trading around 78.36.
On the lower side , any break below 78.60 will drag the pair down till 77.90/77.55./76.36 in the short term.
The immediate resistance is around 79.10 (100- day MA) and break above will take the pair to next level till 79.66/80.31 in the short term.
It is good to sell on rallies around 78.50-78.60 with SL around 79.10 for the TP of 77.55/76.40