The CADJPY ended the bullish corrective rally by facing a strong barrier at 210.65, as it represents %100 Fibonacci extension level, forcing it to form sideways trading by its stability near 201.40.

 

The stability below the current barrier and stochastic attempt to provide negative momentum will increase the chances of forming bearish waves, to attempt to reach 200.70 and 200.25, while breaching the barrier will ease the mission of recording extra gains that might extend towards 212.20 initially.

 

The expected trading range for today is between 200.70 and 201.60

 

Trend forecast: Bearish