CAD/JPY’s break of 81.22 support suggests that a short term top was formed at 82.16. More importantly, the cross could have also completed a terminal triangle, in five wave started from 77.91. Deeper fall would be seen back to 80.12 support first. Firm break there would indicate near term bearish reversal. That is, whole rebound form 73.80 has completed, on bearish divergence condition in daily MACD.
More importantly, if that happens, that would mark rejection by long term falling channel. Larger down trend form 91.62 might then be resuming for another low below 73.80 in the medium term.
