CADJPY recently broke the resistance level 78.45 (which has been reversing the price from the start of March) intersecting with the 38.2% Fibonacci correction of the previous sharp downward impulse (1) from the middle of February. The breakout of the resistance level 78.45 accelerated the active impulse wave C. Given the strong bearish sentiment affecting yen today – CADJPY is likely to extend the gains toward the next resistance level 81.36 (former top of wave 2 from March and the target for the completion of the active impulse wave C).