Talking Points

• CADJPY Rebound at risk- on the lookout for short-triggers
• Resistance at 86.21/ Broader Bearish invalidation at March high
• Updated targets & invalidation levels

CADJPY Daily

Technical Outlook:Earlier in the month I highlighted the reversal off a key confluence resistance at basic trendline extending off the June highs. The decline extended into the low-week close (daily reversal close) at81.69 before rebounding. The near-term advance is once again approaching key areas of resistance with our broader outlook weighted to the short-side while below the 2016 high-day close at 85.53 with a breach above the March high needed to shift the focus higher. Interim support rests with the lower median-line parallel / 84.55 with a break below this region targeting the 50-line (red) & the 81.19. Critical support rests at 80.60 – a level defined by the 2016 (January AND February) low day closes.

continue....

https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/scalping_report/2016/04/14/Forex-CADJPY-Bearish-Below-March-High-Break-Sub-84.57-Fuel-Losses.html