CADJPY continues to rise sharply after the latest breakout of the resistance area lying between the resistance level 83.800 (which stopped the previous impulse wave (i) in the middle of February) and the resistance trendline of the extended daily up channel from November. The breakout of this resistance area accelerated the active impulse waves (iii) and 3 of the impulse wave (5) from the end of January. Given the clear daily uptrend and the strong yen bearishness seen acorns the FX markets today – CADJPY is likely to rise further toward the next resistance level 86.000 (target for the completion of the active impulse wave (5)).