CAD/JPY’s mild decline this week, with 4 hour MACD crossed below signal line, argues that corrective recovery from 80.12 might have completed at 81.18 already. Focus will be on 80.12 support for the next few days. Break there will resume whole fall from 82.10 to 79.22 support first. Also, such development, if happens, will bring CAD/JPY firmly back below 55 day EMA. That could prompt deeper selling back to the bottom of prior range at 77.91. Nevertheless, above 81.18 would extend the recovery to retest 82.10 high instead.
