Cadjpy: 200-day ma and trend line resistance
Source: FxWire Pro - Technicals / 12 Sep 2019 11:03:20 Europe/London
Major resistance- 82.10-82.25 (200-day MA and trend line resistance)
CADJPY was trading higher for the past 1- week and jumped more than 150 pips till 82.09 on slight weakness in the yen. The slight easing of trade tension has increased demand for riskier assets. USDJPY hits 108 level after more than 1-month consolidation.
Canadian dollar performing better this month especially against USD (1.85% higher) on positive economic data and rising crude oil price.
On the flip side, 81.47 will be acting as near term support and any violation below will drag the pair till 80.97/80.25.
The near term major resistance is around 82.10-25 and any close above confirms bullish continuation a jump till 83/83.25 likely.
It is good to sell on rallies around 81.85-90 with SL around 82.25 for the TP of 80.97/80.25.© FxWire Pro 2019. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.