CADJPY : Intraday View

CAD is one of the weakest currencies for the last few weeks so we would not be surprised if bounce on CADJPY will prove as just another corrective wave. We are looking at wave iv-circled headed back to former wave four, at 89-89.93 where new sell-off may occur but only if substructure from the low will be in three waves.Technically speaking this pair is bearish and current bounce can be temporary within ongoing downtrend.

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