With the position of the RSI indicator (5) which is above level 50, it gives an indication that there is still strengthening momentum on the 4-hour chart of the CAD/JPY cross currency pair where the area level of 107.24-107.80 will be tested in the near future if this area level acts as a strong enough Resistance level so that CAD/JPY does not break above level 109.18 then most likely CAD/JPY will continue to weaken to level 103.13 and if this level is successfully broken down then CAD/JPY will continue to weaken to level 100.62 as its main target and if the momentum and volatility support then 96.56 will be the next target to be aimed for.
(Disclaimer)
