CADJPY recently reversed down from with the Evening Star from the resistance area lying between the key resistance level 82.65 (which stopped the previous impulse wave (i)), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous ABC correction 2. Given the strengthening bearish sentiment affecting the Canadian dollar – CADJPY is likely to remain under the bearish pressure and to fall toward the next support level 81.50 (low of the previous corrective wave (ii) from the start of December).
