CAD retreated after making high of 95 on account of weak oil prices and softer manufacturing data released on Wednesday. Overall trend is weak as long as resistance 95.20 (23.6% retracement of 106.49 to 91.72) holds.
On the upside minor resistance is around 93.65 and break of will take the pair to 94.50/95.
The pair’s minor support is around 93 and indicative break below would drag the prices further down till 91.75/90.51.
Indicators (4 Hour chart) CCI (50) - Sell CCI (14) - Sell Ichimoku- Sell
Recommendation: Sell CAD/JPY around 93.30-35, SL 93.65, Target 91.75.