CAD/JPY is one of the top moves today, following Yen’s recovery, as well as weakness in oil prices. Recovery from 95.83 might have completed at 99.28, after rejection by near term falling channel and 99.46 support turned resistance. Deeper decline is now in favor back to retest 95.83 low first. Firm break there will resume whole fall from 110.33.
Nevertheless, break of 99.28 will now be a sign of stronger rebound ahead. Further rally would likely be seen through 110.24 resistance to 55 day EMA (now at 103.32) instead.
