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CAD/JPY trades above trend line resistance, targets 84.80

FX:CADJPY   Dolar Kanada/ Yen Jepun
92 0 9
CAD/JPY             formed a temporary bottom at 80.88 and shown a continuous jump from that level. The pair broken major trend line resistance around at 83.05 ( trend line joining 83.74 and 83.48) and jumped till 83.12. It is currently trading around 83.31.

Canadian dollar             trades higher against all majors on account of hawkish BOC             .

Technically in the hourly chart, the pair is trading well above Tenkan-Sen (82.09) and Kijun-Sen (82.19). Intraday weakness can be seen only below 82.80 (200- H MA).

On the higher side, any break above trend line resistance will take the pair till 84.20 (Mar 31st 2017 high)/84.80.

It is good to buy on dips around 83.25 with SL around 82.80 for the TP of 84.20/84.80.
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