CADJPY after three weeks fight with support area 82.70 finally closed below it. Current trend is considered as bearish and this break opens way to further decreases.
The closest key support area is between 79.60 and 80.30. This is where we expect the most of the bids. Opportunity to open short position can be found in few places:
- Bearish trend line set from February 15th high
- In area of 20 SMA which is good dynamic resistance lately
- In area next to 82.70 which after break becomes new resistance.
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