Following broad based selloff in Yen, CAD/JPY resumes the rebound from 85.40. The development affirms the case that correction pattern from 91.16 has completed, after depending 85.40 support. Further rise would be seen to 55 day EMA (now at 88.49). Sustained break there will affirm this bullish view and bring stronger rise back to retest 91.16 high.
CAD/JPY is kept well above 81.91 resistance turned support, and keeps the up trend from 73.80 alive. Such up trend is in favor to resume through 91.16 at a later stage.
