Pjanic stepped up for both spot-kicks and scored both, the first on the stroke of half-time, the next six minutes after.
Cristiano was left visibly distressed by the red card, his first in the Champions League, at first collapsing into a heap on the floor before leaving the Mestalla pitch in tears.
However, it would seem unlikely that his ban would be extended, with Article 15 of UEFA's regulations stating that bans of more than one game are for offences such as abusive language towards a match official, serious assault or for receiving a caution or red card on goal.
Ronaldo looked baffled and kept protesting his innocence, briefly laying on the ground to express his disbelief.
Cristiano Ronaldo's sister has lashed out on social media over the decision to send off her brother in Juventus' win over Valencia in their Champions League match, declaring officials, "want to destroy my brother".
But the red card on the night was the right decision, despite the fact we'd have loved to see Ronaldo stay on the pitch and extend his wonderful Champions League goalscoring record.
Ronaldo was dismissed in the 29th minute after tangling with Jeison Murillo.
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However, ESPN has been told it is unlikely that Ronaldo will receive any extended ban on top of the automatic one-game suspension.
But former Premier League referee Mark Clattenburg thinks Ronaldo was unlucky.
"Referee Felix Brych had his back to the incident".
Ronaldo is the Champions League all-time leading scorer with 120 goals and led Madrid to the title the past three years in a row.
The Portuguese player then made contact with Murillo's head while urging him to get up.
Old Trafford could also be denied a reunion with Ronaldo for Juve's October 23 visit depending on the ban UEFA imposes.
Replays showed there was a slight coming together between the two players, but Ronaldo didn't appear to lash out at his rival with his hand or head.
Ronaldo's red card will mean he is likely to miss Juve's clash against his former club Manchester United who they face in the third round of fixtures.