Even as the immediate trend-line support portrays CADJPY's up-move during this week, the pair seems finding it hard to clear the 79.90 – 80.00 horizontal area and resting around the mentioned line-support, at 79.00 now. Given the pair drops below 79.00, the 78.80 & 78.30 are likely its next rest-points, clearing which it could re-test the 61.8% FE of its late-April – June downside, near 78.00 round figure. If the pair extends the decline below 78.00, the 77.45 might offer an intermediate support, clearing which chances of its another plunge to 76.00 can't be denied. On upside, a clear break above 80.00 psychological magnet can quickly help it to surge towards 80.90 & 81.30. During its additional upside beyond 81.30, the 81.70 can pose as a small barrier before the pair could challenge the two-month old trend-line resistance of 82.30, which if broken can accelerate the pair quote to 83.80 – 84.00 resistance-region.
Alike CADJPY, the NZDJPY, which bounced-off from six-month old trend-channel support, is also witnessing the horizontal hurdle to clear, at 73.65-70, which if broken can propel its recent up-move towards 74.30 & 75.00 resistances. Should the pair successfully trades above 75.00, the 75.50 could offer consecutive stop during its run-up to 76.35 and the channel resistance of 77.00. Meanwhile, pair's pullback from the current levels can print 73.00 & 72.50 on the chart ahead of dragging the pair to 71.00 – 70.95, comprising channel support & 61.8% FE of its December 2015 – May 2016 downside. If at all the pair drops below 70.95, it becomes vulnerable to revisit the 69.00 mark.
Following its failure to surpass 0.9280 – 0.9300 resistance-zone, on Brexit results day, the NZDCAD again aims to clear the mentioned area and rally towards 0.9320 & 0.9380 resistance. If the pair manages to clear 0.9380 on a closing basis, the 0.9420 is likely a hurdle that it needs to surpass ahead of witnessing 0.9525 & the December-2015 highs of 0.9572. However, the overbought RSI signal that now isn't the right time for the pair to clear 0.9300 and it might witness a pullback towards its 0.9200 immediate support, followed by the channel support of 0.9150. Given the pair's drop below 0.9150, the 38.2% Fibonacci Retracement of its August – December 2015 upside, near 0.9070, and the 0.9000 round figure can again come into play.
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