Looking at the 4h chart on the CAD/JPY , we were seeing this pair gaining throughout the day, but then once the US Markets closed, the pair dropped to its at 81.400. The steep down-trend that started on the 2nd of February is still intact. If we get a break below the 81.400 level, then this opens the path towards the next good area of support at 80.600.
On the other hand, a move back up towards the 82.500 area, could push it closer to the previously mentioned down-ward and could test it from underneath. We should be cautious at that area, as a break above that, could indicate a change in direction, at least for the short-term. If CAD/JPY does get a break like that, then the next area to watch out for would be around 83.650 and then potentially 84.450. Also, the is below 0 mark, but it looks like it is aiming north, which indicates that bulls are trying to jump back into this pair.
I am Long for now, but with a Stop at 81.400