CADJPY recently reversed down from the combined resistance area lying between the key resistance level 78.500 (former support from August which stopped the previous wave B earlier this month) and the 38.2% Fibonacci correction of the previous sharp downward impulse from February. Given the rising bullish Japanese sentiment seen across the markets today – CADJPY is likely to extend the losses toward the next support level 77.000 – the breakout of which can lead to further losses toward the next support level 76.000.