CAD/JPY will break down from a major support line

The pair will break down from a major support line, sending the pair lower towards its October 2019 low. The Canadian dollar will experience some short-term weakness in the following days. This was after 32 Canadians tested positive for the COVID-19 on board of the quarantined ship. In total, there are 454 confirmed cases of coronavirus during their stay at the Diamond Princess ship. The cruise ship is currently under quarantine in Yokohama port in Japan. Japan, on the other hand, has 250 confirmed cases. The Canadian government recently ordered a chartered planned to carry its citizens back to the country to receive treatment. The fear over coronavirus outweigh the poor performance of the Japanese economy. Last month, Japanese trade balance went down to negative 152.5 billion. Both the country’s imports and exports also published disappointing results. Today, February 18, the country is set to publish the updated report for imports and exports.