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CAD/JPY breaks trend line resistance, good to buy on dips

FX:CADJPY   Dolar Kanada/ Yen Jepun
180 0 7
CAD/JPY             has shown a minor decline till 81.27 after hitting high of 82.39 on Apr             26th 2017 on account of weak crude oil             price. The pair jumped and broken 200- day MA (82.19) at the time of writing. It is currently trading around 82.208.

The pair shown a mild jump above 200- day MA and any close above will take the pair to next level till 83.20 (55- day EMA )/83.57 (55- day EMA )/84.20.

The near term support is around 81.21 ( 61.8% retracement of 80.57 and 82.39) and any break below will drag the pair down till 80.56/80.20 ( 61.8% retracement of 74.81 and 88.92).

It is good to buy on dips 82.10 -82.20 with SL around 81.20 for the TP of 83.40/84.20.

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