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FOREX: With limited recoveries in the energy sector, CAD remains on the
defensive. We highlighted in an Analysis email on Nov 13 (CADJPY Resuming
Downtrend) that CADJPY is looking heavy opening a move towards the 100-dma
(Y85.72). The cross did indeed breach the level yesterday (Y85.53), but failed
to close below. Up trendline support off the June low comes in today at Y85.28,
a break here opens the potential of a run at the Y85.00 level, ahead of the
200-dma & 50% fibo of Y80.54-89.22 at Y84.90/88. CADJPY last Y85.86.