FX.co ★ Technical Analysis of Weekly Price Movement of CAD/JPY Commodity Currency Pairs, Tuesday February 28 2023.

From the weekly chart it appears that there is a correction rally going up on the CAD/JPY commodity currency pair where the price movement is above the 10 EMA now the CAD/JPY commodity currency pair is trying to test the Bearish Fair Value Gap area level and if this level strong enough to hold back the pace and as long as this rally does not continue to break above the 104.06 level, there is a high probability for CAD/JPY in the next few weeks it will depreciate down again to test the 94.62 level and if this level is successfully broken then CAD/JPY will continue its decline to level 89.22 as the first target and level 84.88 as the second target.

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