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CADJPY recently reversed down with the Bearish Engulfing candlesticks reversal pattern from the resistance area lying between the pivotal resistance level 81.60 (former support from November, December and February), and the upper daily Bollinger Band. Given the moderately bearish Canadian dollar sentiment seen across the markets today, CADJPY is likely to extend the losses in the active impulse wave C toward the next support level 79.30. Strong resistance remains at the resistance level 81.60.
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