Since the beginning of August, the CAD/JPY currency pair has been trading downwards within a falling wedge pattern.
From a theoretical point of view, it is likely that the exchange rate could decline within the predetermined pattern in the medium term.
On the other hand, the currency pair could gain support from the 100-period moving average near 79.50. Thus, a breakout north could occur, and the pair could target the Fibo 50.00% at 82.95.
