CAD/JPY Sell Opportunity as long as below 91.80

CAD/JPY is hovering nearly to its trendline resistance zone. CAD is a bit strong enough against most of the major currencies. But JPY is considered a safe-haven asset, and we should not forget it. And technically, many times, CAD/JPY dropped from the trendline resistance level.

So, I am expecting this also CAD/JPY can drop from the trendline resistance zone to 89.89 (Trendline support).

Last week CAD/JPY bounced from the trendline support zone of 89.25. SO, as long as CAD/JPY is unable to break below 89.25, it may not go in long-term sell as well. But if CAD/JPY breaks below the trendline support level of 89.25, we will see more downside pressure in CAD/JPY.

Breaking below 89.25, our first target to the downside is 87.87, and breaking below 87.87 will open the door for a solid support zone of 85.70 price zone.