CAD/JPY follows other Yen crosses lower today, with downside acceleration. Near term outlook is kept bearish by prior rejection from 55 day EMA. The fall from 91.16 is probably ready to resume through an important support zone.
The cluster support level include 84.65, 55 day EMA (now at 85.46) and 38.2% retracement of 7380 to 91.16 at 84.52. Sustained break of this level will confirm both the completion of rise from 73.80 and rejection by 91.62 key resistance. In this case, deeper fall would be seen to 61.8% retracement at 80.43.
