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CADJPY recently reversed up from the support area lying between the key support level 82,00 (former monthly high from September) and the 38,2% Fibonacci correction of the previous sharp upward impulse wave (c) from the start of October. Given the strong bearish sentiment affecting the Yen at the moment – CADJPY is likely to remain under the bullish pressure today and extend the gains toward the next key resistance level 83.5 (former top of wave 2 from end of October).
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