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CADJPY pair has just broken a wedge to downside on a 4 hr chart and is a daily resistance level of 94.
The level of 94 has been a significant resistance for last 4 days.
CADJPY has been range bound in this week and has broken a wedge to downside.
The USDJPY has also started a retracement after a ralley for last 3 days.
CADJPY might touch 93 if data from Canada continues to be poor and JPY strengthens.
The NFP after 2 days would also mean risk aversion and JPY strengthening.
On a daily chart CADJPY has formes a resistance at 94 which has been previous support.
Today's CAD economic news has been negative and the JPY strengthening has been good setup for CADJPY short at 93.8
The level of 94 has been a significant resistance for last 4 days.
CADJPY has been range bound in this week and has broken a wedge to downside.
The USDJPY has also started a retracement after a ralley for last 3 days.
CADJPY might touch 93 if data from Canada continues to be poor and JPY strengthens.
The NFP after 2 days would also mean risk aversion and JPY strengthening.
On a daily chart CADJPY has formes a resistance at 94 which has been previous support.
Today's CAD economic news has been negative and the JPY strengthening has been good setup for CADJPY short at 93.8
