CADJPY continues to fall after the earlier downward reversal from the key multi-month resistance level 81.850 (which stopped the sharp upward impulse at the start of June) intersecting with the upper daily Bollinger Band. The downward reversal from the resistance level 81.800 created the daily Japanese candlesticks reversal pattern Dark Cloud Cover. Given the strength of the resistance level 81.850 and the rising bearish Canadian dollar sentiment seen across the FX markets today– CADJPY is expected to extendthe losses toward the next support level 81.000.
