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CADJPY is currently trading close to the resistance area lying between the key resistance level 83.800 (which stopped the previous sharp upward impulse wave (C) in December) and the upper daily Bollinger Band. Given the overbought daily Stochastic and the rising bearish Yen sentiment seen across the markets today, CADJPY is likely to fall further toward the next support level 83.000 (which has been steadily reversing the price from the middle of December).
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