CADJPY recently reversed down from the resistance area lying between the pivotal resistance level 78.000 (which has reversed the two previous corrections (a) and (b) in March), upper daily Bollinger Band and the 38.2% Fibonacci retracement of the pervious downward impulse from February. Given the strength of the aforementioned resistance area and of the previous daily impulse wave from February – CADJPY is likely to fall further toward the next support level 77.000 – the breakout of which can extend the losses toward the next support level 75.000 (low of the earlier wave (b)).