Dukascopy
Short

CADJPY 4H Chart: Trading short

FX:CADJPY   Canadian Dollar / Japanese Yen
The Canadian Dollar             has extended its decline against other major currencies during the previous trading sessions. However, the decline can be observed notably in the CAD/JPY             chart. 
The Loonie is trading in a narrow channel against the Yen. The pair has re-tested the upper boundary of the junior channel.
As for the near future, the currency exchange rate could be a false breakout upwards to test the weekly and the monthly resistance near 86.91. Meanwhile, the overall market sentiment remains bearish .
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