CADJPY recently reversed down from the resistance area located between the key resistance level 78.000 (which has been reversing the price from the start of March), upper daily Bollinger Band and the 38.2% Fibonacci retracement of the previous downward impulse (i) from the middle of February. Given the strongly bullish sentiment affecting Japanese Yen dollar today – CADJPY is likely to extend the losses toward the next support level 76.000 (former support from the start of April) – the breakout of which can lead to further loses toward 75.000 (low of wave (b)).